Property Development

Doncaster Road humming with development

Written by The ReReport
As seen in the Source link, written by on 2019-10-31 10:11:51

Development along the major eastern suburb thoroughfare of Doncaster Road appears to be humming this year, with one major project completed, another beginning – and the site of the next one (pictured, top), being created, and listed for sale this month.

Doncaster Road

Doncaster Road begins at the East Kew junction and passes
through Balwyn North, Doncaster, Doncaster East and Donvale before terminating
at Tunstall Square – were the thoroughfare becomes known as Mitcham Road.

The bulk of development activity to date has circled around
the Westfield Doncaster shopping centre, about 14 kilometres from the city.

Zoned as the Doncaster Hill Activity Centre, this pocket was
where high-density apartments were first developed in Melbourne’s suburbs in
the 1990s.

The $500 million Westfield Doncaster revamp will add retail and office space and a 14-storey apartment building.

In May, Westfield announced plans for a $500 million redevelopment of the centre, adding apartments and a new exclusive retail precinct (artist’s impression, above).

About a kilometre closer to the city, Mirvac is replacing
the 47 hectare former Eastern Golf Club on Doncaster Road with a major housing
estate, Tullamore.

Mirvac paid $100 million for the Eastern in 2009

Recently completed: 534-540 Doncaster Road, Doncaster

Benetas Doncaster Hill replaced a PappaRich Malaysian restaurant.

Aged care service provider Benetas is responsible for
Doncaster Road’s newest major development.

Benetas outmuscled developers for the former PappaRich restaurant, which occupied an enormous 6323 square metre plot at 534-540 Doncaster Road, within the Doncaster Hill Activity Centre.

The sale price reflected a land rate of about $2900 per
square metre.

Last year, Benetas won approval to replace the property
with a $110 million village comprising 74 independent living units within a
seven storey building, next to a 124-bed aged care accommodation building of six

The complex opened earlier this year.

Recently started: Folia at Tullamore, Doncaster

Mirvac started constructing the Folia apartment complex in Doncaster Road, Doncaster, this month.

Three weeks ago, Mirvac held a sod turning ceremony and
kicked off construction of Folia – the latest apartment building earmarked for
the Doncaster Road edge of the former Eastern Golf Club.

Folia will rise seven storeys and contain 102 flats.

It is the second apartment building Mirvac has developed
in the housing estate it has branded Tullamore: The neighbouring complex, Phoenix,
is six levels, and 90 per cent sold out and settled.

Mirvac said it sold half of Folia’s apartments off the
plan in four months. The tower is due for completion in 2021, it added.

Tullamore will accommodate about 850 residences upon
completion – 570 of those have been offered for sale to date.

Next in line: 1094 and 1096 Doncaster Road, Doncaster East

These neighbouring Doncaster Road, Doncaster East, properties, are zoned to make way for a large scale redevelopment.

Neighbouring low-rise investment properties toward the
eastern edge of Doncaster Road, near the Tunstall Square shopping centre, in
Doncaster East, could make way for the precinct’s next major development.

Covering a combined site of 1322 square metres and zoned Commercial 1, 1094 and 1096 Doncaster Road would be considered for a high density healthcare or residential project, an office, or a mixed-use complex containing one of these uses atop ground floor retail and basement car parking.

A six storey outcome could reasonably be considered permissible
by an incoming owner.

CBRE’s Sandro Peluso said that while Tunstall Square has avoided the building boom which has gripped other parts of Doncaster Road, demand from developers it there, while supply hasn’t been.

The triple fronted site is a couple of hundred metres away from a healthcare precinct with the Donvale Rehabilitation Hospital, Bupa Aged Care and TLC The Heights accommodation complexes.

Mr Peluso is marketing the properties – a residence and a double-storey office – with colleagues David Minty and Chao Zhang.

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