356 Murray RoadPreston VIC 3072
Property Details for 356 Murray Rd, Preston
Last Listing description (September 2023)
Exceptional opportunity in a Priority Development Zone
GrayJohnson is pleased to offer for sale this large residential development site enjoying an ideal location in one of Melbourne's in-demand northern suburbs. Preston is experiencing transformational growth, with apartment-style developments to cater for a population expected to grow from around 38,200 in 2023 to 63,738 by 2041.#
Already cleared and ready for construction, the site is favourably positioned in a Priority Development Zone, with the Preston Station just 80 metres* away. The high-profile location on the corner Spring Street provides excellent access to major arterials and is minutes from major supermarkets, the Preston Market and the shopping strip in High Street.
Darebin Council has identified the property as a key redevelopment site suited to a landmark residential building. Consequently, it has potential for new development to exceed the current preferred height limit of 7 storeys for this planning envelope (subject to planning approval). This is your opportunity to contribute to the evolution of Melbourne's increasingly vibrant north.
The opportunity:
Large corner development site of 2873sqm*
Favourable Priority Development Zone
Identified by Council as suited to a landmark building
Expansive frontage of 90m* to Murray Road
Potential city views
The location:
Prime corner position 9km* from Melbourne CBD
80m* (1-minute walk) to Preston Station
Short walk to Woolworths and Aldi supermarkets and Preston Market
Easy access to key arterials: St Georges Road/Spring Street, High Street, Bell Street.
Nearly 20 schools within a 10-minute drive
Cosmopolitan shopping and eateries in nearby High Street
12-minute drive* to Northland Shopping Centre
#idCommunity
*approx.
^STPA
Property History for 356 Murray Rd, Preston, VIC 3072
- 17 Mar 2023Listed for Sale Contact Agent
- 04 Apr 2022Listed for Sale Contact Agent
- 13 Aug 2019Listed for Sale Not Disclosed
Recent sales nearby
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0About Preston 3072
The size of Preston is approximately 11.5 square kilometres. It has 30 parks covering nearly 4.7% of total area. The population of Preston in 2016 was 32851 people. By 2021 the population was 33790 showing a population growth of 2.9% in the area during that time. The predominant age group in Preston is 30-39 years. Households in Preston are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Preston work in a professional occupation.In 2021, 57.30% of the homes in Preston were owner-occupied compared with 56.70% in 2016.
Preston has 21,600 properties. Over the last 5 years, Houses in Preston have seen a 19.15% increase in median value, while Units have seen a 13.68% increase. As at 31 December 2025:
- The median value for Houses in Preston is $1,235,570 while the median value for Units is $633,025.
- Houses have a median rent of $625 while Units have a median rent of $550.
Suburb Insights for Preston 3072
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