Prized Hawthorn development opportunity with luxury permit

A prime development site in Melbourne’s leafy inner-eastern suburb of Hawthorn will appeal to developers looking to take advantage of a permit approved opportunity within an exceptional location amid a severe housing shortage.

154-156 Riversdale Road comprises a substantial 1,500 sqm site within the sought-after Scotch Hill residential zone and comes with an approved permit for a high-end, luxury residential project of 18 apartments.

The property is five minutes from Camberwell Junction's boutique fashion outlets, dining and entertainment venues, and the popular Camberwell Market and iconic art deco-style Rivoli Theatre.

It is also close to some of Melbourne’s leading private schools, including Scotch College Swinburne University, public transport (including trains and trams), parklands and Yarra River walking trails.

JLL’s Director – Development Site Services – Victoria, Jesse Radisich, is marketing the property with Madeleine Pizzey and MingXuan Li.

“It is a quality site in an exceptional location. With planning approval already in place and the ability to capture the strong ongoing demand for high-end residential products, this is a highly strategic offering from a timing perspective.”

“With just 18 considered apartments, this opportunity presents a developer with a boutique offering in a market with a genuine shortage of high-end housing in quality locations,” Radisich said.

Mr Li said the recent success of several residential apartment projects in the vicinity underscored the strong demand for quality accommodation in one of Melbourne’s most sought-after inner suburbs.

The property will be sold by Expressions of Interest, closing on May 22 at 2 pm.