265 Johnston Street

Abbotsford VIC 3067

This property in Abbotsford encapsulates a remarkable opportunity boasting a freehold in one of the area's most coveted locations. With a substantial land size of approximately 711 sqm and an impressive street frontage spanning 54 meters, this corner block comes with approved plans for a 7-story apartment building, offering a ready-to-develop prospect. Enhanced by its versatile Commercial 1 Zoning, it allows for diverse uses, paving the way for potential future redevelopment (STCA). The surrounding neighborhoods of Fitzroy, Collingwood, and Abbotsford are witnessing significant growth, marked by ongoing medium to high-density residential developments. Its proximity to transportation services, vibrant hospitality options, and retail centers, including notable spots like Black Hearts & Sparrows Wine Store, Bodriggy Brewing Co, and Rita's Restaurant, ensures convenient access to an array of amenities. Moreover, its strategic positioning with easy reach to major arterial roads such as the Eastern Freeway and CityLink solidifies its status as a prime city fringe location. Overall, this property stands as a compelling investment opportunity, attracting developers, land bankers, investors, and owner-occupiers alike due to its favorable zoning and promising city fringe locale.