The property is a well-located land holding of 4,290 sq.m. in a sought-after location within the inner-city Melbourne market. The property enjoys a prominent street frontage to the major arterial road, Punt Road, and is also within walking distance to public transport and Melbourne’s famous Chapel Street shopping strip.

The property comprises an existing redundant aged care facility with the existing operator acquiring the land next door to build a new vertical aged-case facility of which they have moved to. It is planned to design a two-tower residential development with an interconnecting sky-bridge on the rooftop. This rooftop will include a communal swimming pool, gym, basketball court and landscaped areas for residents. Upon completion the development will comprise circa 320 apartments and 3 levels of basement parking for over 300 car spaces.