JLL has been appointed to sell a permit approved development site at 422-430 Johnston Street in Melbourne’s inner city suburb of Abbotsford.

The triple-fronted corner is occupied by five vacant showrooms and offers rear lane access, and an approved permit for a seven-level retirement living project. It boasts over 160 metres of frontages to Trennery Crescent, Little Turner Street and Johnston Street. 

JLL marketing agents Jesse Radisich, Josh Rutman, Mark Stafford and MingXuan Li are selling the site on behalf of Amber Property Group. Amber have made the decision to divest the property after achieving planning approval following acquisition of the site in 2022, also through JLL, and to allocate capital towards larger development projects in its growing portfolio. 

"We are incredibly proud of the work we've done on this project, particularly securing an excellent town planning permit outcome that maximizes the site's potential," said Rachael Brady, CEO of Amber Property Group. "This is a rare chance to secure a site in one of Melbourne’s most sought-after locations, with all the foundations in place for success."

"We are currently focusing on larger projects and the sale of this site will enable us to allocate resources effectively to those developments," Rachael added. "While the timing is right for us to divest from this particular project, we remain committed to delivering exceptional developments across Melbourne."

“This pocket of Abbotsford is perfectly positioned next to the Yarra River right before you cross the bridge into the leafy establishment suburb of Kew. Abbotsford has been undergoing a renaissance with a number high end and boutique developments changing the feel and demographic of this once working class area,” JLL’s Jesse Radisich said.

The high profile 2,428 square metre corner site has planning approval for a seven level retirement living project comprising 68 large Independent Living Apartments (ILAs) and 1,122 square metres of retail and 1,641sqm of communal space, including a gym, a cinema, a library, and 83 underground car parking spaces. 

Jesse Radisich noted that “the plans currently provide an average apartment size of 113sqm, and offer the perfect envelope to convert to a high end residential project or a number of other uses”. 

“The flexibility and scale of the offering is becoming increasingly rare in inner city locations such as Abbotsford, and the existing permit provides potential developers with valuable planning certainty and building envelope, with the potential to convert to alternate uses including residential, hotel, health and more.” Mr Radisich noted. 

“This is very much a lifestyle location. There are numerous bars and restaurants in this Abbotsford precinct and the ever-popular Victoria, Smith and Brunswick Streets are a short walk away,” Mr Rutman said.

He said the development is in a popular location where people work and live, within an inner-city community that has easy access to the CBD and popular inner-city destinations.

“This area has a vibrant sense of community with many historic terraces mixed with new apartment buildings that create an exciting lifestyle in one of Melbourne’s up-and-coming historic precincts with the same charm as Fitzroy, Collingwood and Richmond,” Mr Rutman said.

The site is expected to appeal to a residential or aged-care developer or potentially a land banker looking to secure a prime site.

422-430 Johnston Street, Abbotsford will be sold via an Expressions of Interest campaign closing Wednesday, 23 October at 2 pm (AEDT)

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