Mirvac has purchased a 6202 sqm development site in Melbourne's inner east for $6.7 million.
The site, in Wattle Road, Hawthorn, was formerly owned by the Anglican Church. It was a 93 bed aged care facility. Mirvac Victoria Chief Executive Officer, Mick O’Brien says the acquisition complements the earlier purchase of a similar sized development site in Canterbury, also in Melbourne’s established eastern suburbs.
“The purchase is part of a strategy of targeting primarily owner-occupiers, who live in an area and who want to sell their large property and move into a quality Mirvac apartment”, O’Brien says.
“Hawthorn, like Canterbury is one of Melbourne’s affluent ‘inner east’ suburbs and enjoys excellent local amenity, which is very important to our target market.
“Our buyers know the area, they appreciate the amenity of the tree lined streets proximity to parklands and they shop in Glenferrie Road, one of Melbourne’s strongest strip shopping centres.” O’Brien added.
Wattle Road Hawthorn, is situated within three blocks of the intersection of Burwood and Glenferrie Roads, and has excellent access to public transport, schools and shopping facilities.
Mirvac plans to build about 50 apartments, comprising mainly two and three bedroom luxury apartments, many with commanding city and district views.
Earlier this week, Mirvac announced it has secured a joint venture for a residential site on Victoria’s surf coast in Torquay.
