39 Greenridge Avenue, Templestowe, Vic 3106

This rare and versatile opportunity awaits in a tranquil Templestowe cul-de-sac. Spanning a vast 3091m², GRZ 1 allotment with an impressive street frontage of approximately 103 metres, this substantial site delivers strong appeal for developers, investors or institutions. The block is packaged with plans and permits for 10 townhouses, with endless future options.

Formerly operating as Green Ridge aged care, the triple-level, solidly constructed building features double brick walls and a concrete slab. The decommissioned establishment offers a wide range of potential future uses. Currently encompassing 1620m² ground floor fitted with 27 single bedrooms, each with its own prospective ensuite, multiple communal areas including a large reception area, possible lounge and dining zones, and previously commercial-grade kitchen. The lower level offers approximately 100m² of storage and potential laundry facilities, while the first floor could provide a former self-contained two bedroom residence of approximately 102m² and an additional one bedroom apartment, ideal for onsite management or staff accommodation, or be sold as part of a refurbished residential project. A designated courtyard area and 18 approx car spaces complete the current layout.

Though in need of renovations/repairs, the facility presents immense potential for repurposing. It lends itself to imagining as a functional aged care or assisted living centre, religious institution or community hub, NDIS/emergency care accommodation or child-care facility. Alternatively, approved plans and permits offer a lucrative development path with scope to construct 10 x 2-storey townhouses, each comprising three bedrooms, two bathrooms, open-plan living and dining, a modern kitchen, private courtyard and garaging.

Positioned for lifestyle and convenience, this unique land holding is zoned for premium local schools including highly sought-after Serpell Primary and Doncaster Secondary College, and is moments walk to Ruffey Lake Park. Close to Donburn Shops, Westfield Doncaster, Templestowe Village and The Pines Shopping Centre. City and private school bus services are within easy walking distance, while the Eastern Freeway and Eastlink are also close at hand.

Boasting strong potential for residential or commercial transformation with plans, permits and current site available to view by appointment only.

Disclaimer: The information contained herein has been supplied to us and is to be used as a guide only. No information in this report is to be relied on for financial or legal purposes. Although every care has been taken in the preparation of the above information, we stress that particulars herein are for information only and do not constitute representation by the Owners or Agent.