SOLD By Miles Real Estate.
Impressively located in the heart of Ivanhoe's medical and educational precinct, this expansive 1293m2 (approx), GRZ5-zoned landholding with 23.84-metres of Edwin Street frontage and 80+ metres of north-side ROW, presents one of the area's most flexible and high-potential opportunities.
Currently comprising 15 one-room bedsits offered with vacant possession, the property is a double-storey cream brick complex, originally developed as an aged-care facility, offering generous dimensions, three frontages and a strategic position directly opposite the Repatriation Hospital.
Set on the northern side of Bluebell Lane by Ivanhoe Hill's thriving residential pocket and the Burgundy Street precinct, this extraordinary site with flexibility for design and access delivers rare scope for a variety of future outcomes (STCA), while an existing permit for childcare centre conversion provides an immediate pathway for redevelopment.
The current five-storey height limit supports the feasibility of higher-density residential, mixed-use or community-oriented projects in a tightly-held, high-demand location, plus there's also potential for adaptive reuse such as a medical centre, wellness retreat, supported accommodation, artist studios, hospital staff housing and more.
The surrounding amenities and infrastructure make this address second to none for convenience, with quick and easy access to the Austin and Mercy Hospitals, Burgundy Street, Warringal Shopping Centre, Ivanhoe Village cafes, Northland, schools including Ivanhoe Grammar, Melbourne Polytechnic, parkland, trains, buses and major arterial links.
Situated at the gateway to Ivanhoe and Heidelberg's health, medical and educational assets, along with their retail, restaurant and recreational attractions, whether pursued for immediate project execution, retained as a long-term investment or reimagined as a landmark community facility, this substantial property promises exceptional potential on every level.
