Savills Australia and New Zealand agents Julian Heatherich, James Latos and Benson Zhou have successfully sold 800 Plenty Road Reservoir to a local developer for $5,000,000.
The vacant land, which has a permit for a six-level aged care facility, was sold on behalf of a healthcare provider. The site was originally sold by Aldi in 2017.
With a land area of 4,434sqm in a commercial 1 zone, the campaign drew attention from a variety of retail groups, housing providers and residential developers however the eventual purchaser intends to make use of the permit and complete the development which comprises a mix of 90 aged care beds, 59 independent living units and a ground floor retail offering.