The Northcote Central shopping centre in Melbourne’s “desirable” inner north has been put on the market by Colliers.
With a landholding boasting a 9210sqm footprint, Northcote Central sits at the corners of High Street and Separation Street in its namesake suburb. Located 6km from Melbourne CBD, the site is in an affluent area, where the average house price is $1.7 million.
Colliers is currently accepting expressions of interest on the property, touting future development opportunities across both real estate and retail.
“Buyers are increasingly focused on well-located metropolitan assets where planning frameworks, site scale and surrounding demographics support long-term value creation,” said Tim McIntosh, Colliers’ national director of retail middle markets.
“Northcote Central offers exactly that. It combines a proven retail centre with a large-scale site in one of Melbourne’s most desirable inner-city locations, creating flexibility to retain an active retail centre while pursuing future mixed-use outcomes.”
The future development of the centre is backed by Darebin Council’s housing strategy, which identifies it as a “substantial change area” due to its size.
“Well-located inner-metropolitan sites supported by existing infrastructure and transport connections will play an increasingly important role in meeting Melbourne’s future housing needs,” Colliers’ head of living, Robert Papaleo, added.
“Northcote Central provides scope to accommodate additional housing within a highly desired inner northside community with redevelopment supported by planning settings that encourage increased density to take advantage of convenient access to existing amenities, services and employment.”
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