Croydon’s corridor attracts development

June 25, 2018 by  

A fresh development site is highlighting the attractiveness of the corridor associated with Croydon.

Croydon is located on the eastern side of Melbourne, and is a highly desirable spot, over 25km to the east of the centre of the city. Brochure printing can be useful within the property industry to showcase such areas.

Nick Peden, of Savills Australia, believes that the growth corridor to the east of Melbourne is a wonderful place in which to live. Peden describes the extent of the area in question:

“Spanning from East Melbourne to Toorak, through to Wantirna South and beyond.”

Local residential initiatives include a development in Wantirna Rise and the Harcrest development of Mirvac. The latter project involves an investment of approximately $450m. However, a different type of site has impressed Peden.

Stockland, Mirvac and Lendlease are predicted to demonstrate an interest in an old apple orchard. This site is situated in Melbourne’s dynamic east. Rezoning means that commercial and residential functions can be performed on the land under discussion. Savills Australia listed the space and a shopping destination could be created as a result of the move.

Arthur Jenkins bought the land during 1922. Since the original purchase, land use in the vicinity has not remained the same. Many families chose to sell up as suburbia spread. However, the Jenkins family persevered with their orchard for decades. An international buyer could take advantage of the opportunity.