Epping shapes as a high density haven
Spurred on by the freshly complete $600 million Melbourne Wholesale Fruit and Vegetable Market development, Epping which is 22 kilometres Due North of Melbourne's CBD is in the infancy of a push toward higher density living. Designated as an Activity Centre during March, Epping is now expected to host an increased number of larger mixed-use projects.
With a number of principally residential projects gaining approval of late, the momentum toward a higher density Epping has increased with the news that Melbourne-based property development and investment group Riverlee has purchased 215 Cooper Street, Epping in an off‐market deal valued at $14 million.
Riverlee will be joined by diversified Malaysian outfit Batu Kawan Berhad (BKB) in developing the 46‐hectare former quarry and landfill site; Epping being the Ipoh-based group’s first real estate venture in Australia.
After laying idle for 17 years, 215 Cooper Street will become a master‐planned mixed‐use precinct that compliments other major uses within the Activity Centre, including the Northern Hospital, Epping Plaza and adjoining commercial precincts. Differing housing typologies have been slated for the site, with an element of high-density apartment living expected.
We are working closely with the City of Whittlesea and other key stakeholders in the area, and have been overwhelmed by the support and encouragement to see something delivered on the site.
We consider this an exciting opportunity to bring life to a site that has been inactive for nearly two decades, and deliver something great for the local community.
Kevin Lee, Riverlee Deputy Managing Director
News of Riverlee and BKB's Epping joint purchase follows hot on the heels of the announcement that Pacific Group will pursue an expansion of their Pacific Epping Shopping Centre. Buchan Group will design the expansion, which will include a new 112-room hotel built with an overall gross floor area of approximately 9,950sqm.
Located on the corner of High Street and Cooper Street, Pacific Group is on the search for a national or international operator, with CBRE Hotels tasked with the job of securing an operator.
Epping as a newly designated Activity Centre also has a number of higher-density apartments developments which have been approved, with the largest currently shown as 719 High Street within the Urban.com.au Project Database. Pelligra Holdings is the developer of the mixed-use project which would see a 12 level building delivered, including 94 apartments within the Elevli Plus design.
Other approved residential projects in the area include 790 High Street and the 92-apartment 67 Rufus Street.
