3-5 Murray Street, Clayton, VIC 3168 | Land for sale | OnTheHouse
 
FOR SALE
Auction $3,000,000 – $3,300,000 Offers Invited

3-5 Murray Street
Clayton VIC 3168

Bedrooms: 9
Bathrooms: 3
Car spaces: 3
Land area: 1423m2
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Auction Time
Sat 29 Aug 12:00 pm
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Permit Approved Medical Centre with Significant Mixed-Use Redevelopment Potential (STPA) – RGZ3

Positioned within the heart of Melbourne's internationally recognised Monash Medical Precinct and the transformative Suburban Rail Loop (SRL) Health & Innovation Precinct, 3–5 Murray Street, Clayton presents an exceptional opportunity to secure a landmark development site combining immediate holding income, a permit-approved medical development and significant long-term redevelopment potential. Situated within Residential Growth Zone – Schedule 3 (RGZ3), the property offers outstanding planning flexibility in one of Melbourne's most strategically important healthcare, education and innovation precincts.
Offered as one substantial landholding, these side-by-side properties comprise approximately 1,423sqm with an impressive 34.17m frontage, creating an outstanding development canvas within one of Melbourne's most tightly held healthcare and education precincts. Existing buildings provide valuable holding income, allowing investors and developers to generate immediate cash flow while planning the site's future transformation.
A key feature of the offering is the existing planning permit for a contemporary four-level medical centre designed to accommodate 61 medical practitioners, enabling purchasers to fast-track a premium healthcare development within one of Australia's largest and fastest-growing medical precincts.
Importantly, while the existing permit provides an immediate development pathway, purchasers may also have the opportunity to pursue an alternative or amended planning permit that delivers an enhanced development outcome, subject to further planning assessment (STPA), capitalising on the site's strategic location within the evolving SRL Health & Innovation Precinct and the planning advantages offered by the Residential Growth Zone – Schedule 3 (RGZ3).
Located within the Residential Growth Zone – Schedule 3 (RGZ3) and the SRL Health & Innovation Precinct, the property offers exceptional flexibility for future redevelopment (STPA), with potential for:
• Permit-approved four-level Medical Centre for 61 Medical Practitioners
• Specialist Medical Suites
• Private Hospital or Day Surgery
• Diagnostic Imaging and Pathology Facilities
• Allied Health and Rehabilitation Centres
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Property Details for 3-5 Murray St, Clayton

Building Type
Land
Land Size
1423m2
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About Clayton 3168

The size of Clayton is approximately 7.9 square kilometres. There are 9 parks, covering nearly 4.1% of the total area. The population of Clayton in 2016 was 19358 people. By 2021 the population was 18988 showing a population decline of 1.9% in the area during that time. The predominant age group in Clayton is 20-29 years. Households in Clayton are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Clayton work in a professional occupation.In 2021, 35.60% of the homes in Clayton were owner-occupied compared with 35.20% in 2016.

Clayton has 12,316 properties. Over the last 5 years, Houses in Clayton have seen a -8.76% decrease in median value, while Units have seen a 1.45% increase. As at 31 July 2026:

  • The median value for Houses in Clayton is $1,157,912 while the median value for Units is $640,220.
  • Houses have a median rent of $630 while Units have a median rent of $600.
There are currently 64 properties listed for sale, and 78 properties listed for rent in Clayton on OnTheHouse. According to Cotality's data, 429 properties were sold in the past 12 months in Clayton.

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Tony Che
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