Acorn Nursery offered to market after almost 40 years of operation

The high-profile Acorn Nursery in the heart of Melbourne’s eastern suburb of Surrey Hills is hitting the market after opening its doors to the public in 1985.

JLL agents Mark Stafford, Jesse Radisich, Josh Rutman, and MingXuan Li are marketing the property. They are conducting an expressions of interest sales campaign on behalf of the private owners.

Having first opened its doors in 1985, the centre has grown over the years into a local institution that now includes the bustling Nursery and The Oaks Café. The property is offered to market with a short-term lease back to the current business.

Underpinning the offering is the 3035sqm landholding that is positioned at the intersection of Canterbury Road, Beatrice Avenue, and Sydenham Lane. The residential zoned site is located in a popular suburban pocket next to Surrey Hills Primary School.

JLL Senior Executive Healthcare and Life Sciences, Mr Stafford said the property is being offered to the market with a lease in place to the current operator, providing short-term holding income or land banking opportunities.

“The property is ideally positioned for future development of luxury townhouses, medical, child care or aged care outcomes (STCA). Surrey Hills is a very attractive area for families, thanks to nearby retail and school amenities, plus the benefit of the recently upgraded Union Train Station being just 350 metres away,” he said.

Mr Stafford said the property is set to attract significant interest from a range of different buyer profiles, including those based locally and offshore.

“Buyers will see the opportunity that this property presents, with a rare combination of high-profile corner street frontage and the scale of underlying land representing a unique proposition in established suburban pockets such as Surrey Hills,” Mr Stafford added.

JLL Director of Development Site Services - Victoria, Mr Radisich highlighted the significant opportunity offerings such as this have to play in addressing the housing shortage in Victoria.

“Opportunities such as this provide a fantastic opportunity to provide a higher density residential outcome in an inner suburban location that is starved for supply”.

He added that “the City of Whitehorse has been set a target of adding an additional 79,000 new dwellings by 2051, an increase of 106% on the current dwellings in 2023. Clearly, the development market will have a significant role to play in this process, with offerings such as this key to addressing the critical shortage of housing many Victorians are facing”.

The site is being offered via expressions of interest closing Tuesday 10 September at 2pm.