The 476 square meter site located at 9 Montrose Street is the development company’s first in Hawthorn, though not the first in Melbourne’s east, with Pace of Abbotsford currently under construction, Pace of Blackburn currently on sale, and Pace of Doncaster East having settled in October 2018.
“We are very excited to acquire our first site in Hawthorn East, it’s a major growth suburb with good access to local amenity, a shopping strip along Burwood and Auburn Roads, direct access to Auburn Station, and walking distance to Swinburne University,” said Planning and Design Manager Michael Holah.
Pace has early ambitions for a boutique office development on the site.
“Just footsteps off Burwood Rd, the Montrose site will provide top quality office facilities for local businesses”, said Michael.
“Hawthorn is an ever-evolving precinct and has become a popular location for professionals, so this is an exciting development opportunity for Pace and one we’re confident will add value to the area”.
The site, purchased from another Melbourne property developer, comes with an existing permit for a 9-storey residential building made up of 34 apartments, and a ground floor commercial space.
Pace Development Group will submit its revised planning submission for a high-end boutique office facility in late 2019.