Why we chose it: Recognising the high exposure location on Bay Road in Cheltenham, this premium site sits at the gateway to some of Melbourne’s most prestigious Bayside suburbs: Beaumaris, Black Rock, Sandringham, and Hampton.
Our process: The site’s prime positioning was appealing for a major retailer like Dan Murphy’s. Not only would it serve as a local landmark off the Nepean Highway, but it could service the affluent surrounding catchments where residents had limited options in value liquor retailers.
The outcome: Dan Murphy’s Cheltenham opened in June 2019, completing Stage 1 of the Cheltenham Quarter project. A permit was issued for Stage 2 of the development, and an anchor tenant for the ground floor retail space is being finalised. Construction on Stage 2 will commence in 2022.
Property Type: Retail
Site Area: 3000M²
End Value: $15M
Why we chose it: Situated on Bay Road in Cheltenham, this $22 million development is positioned centrally within a prized bayside locality. It will cater to commercial and industrial use within the newly established Bayside Business District.
Our process: Working with renowned architect Watson Young and Cera Stribley Architects, this large site has the ability to deliver a variety of development outcomes, including multi-lot industrial and commercial units or larger retail and full office floors in a bespoke multi-level building.
The outcome: The project directly benefits from its position within the blue-chip suburb of Cheltenham, with excellent access to Bayside’s affluent population. Delivered in Stage One, Dan Murphy’s is positioned at the front of the development. It provides retail prominence for adjacent tenants and opportunities to capitalise on customer flow.
Property Type: Commercial & Industrial
Site Area: 4,975m²
End Value: $22m