Developers lick their lips as CSIRO sells off huge Highett site

A former CSIRO site is set to become Melbourne’s south’s latest major development, with the national research agency offloading a huge tract of Highett land that was once home to its laboratories.

The 9.34ha site at 37 Graham Rd is being marketed to prominent developers and is certain to draw attention both locally and internationally.

The site, labelled as “Park Village” is located immediately to the south of a recently completed Coles supermarket and 100m from Highett train station.

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The Federal Government announced its plan to close the site in 2011, with the CSIRO subsequently demolishing all buildings and remediating the land to remove any potentially hazardous materials.

Four hectares of the site will be retained as public open space, under an agreement with Bayside City Council, while the rest of thee site appears destined to become townhouses.

Colliers International’s Trent Hobart, Peter Bremner and Hamish Burgess are marketing the property on behalf of the CSIRO.

The Highett property is being marketed as a huge development opportunity.

Hobart says developers have been waiting years for the chance to get their hands on the site.

“It is a unique and truly unrepeatable offering in a blue chip market. The market has been waiting a long time for this site to become available,” he says.

“It has been a four-year wait for the market’s biggest and best buyers to be given the opportunity to purchase this site.”

“Known as Park Village, this extraordinary development opportunity represents one of Melbourne’s largest and most flexible infill development sites that will capitalise on the Bayside area’s continued growth by delivering preeminent parkside residences.”

As part of the sale process, the land will be rezoned upon settlement to Residential Growth Zone and Development Plan Overlay – Schedule 2.

Upon settlement, four hectares of the site area will be transferred to Bayside Council for public open space and conservation.

The property is for sale via an International Tender campaign, closing Wednesday 19 June 2019.