60-year-old Melbourne nursery for sale with $25m hopes
Long-time Wantirna South nursery owners are being driven out by rising taxes and rates and are seeking a windfall for their prime location.
The 1.83ha Banksia Nursery site at 530-532 Burwood Highway comes with price hopes of more than $25 million and is expected to draw plenty of developer interest.
It is suited for high-rise commercial or residential development or as a medical centre.
Dutch migrants Dirk and Gus van Diggele bought the plot, then just strawberry fields, in 1959 and started selling plants.
The good old days.
What the entrance looks like now.
“Land taxes and council rates keep going up and have made it very difficult to run the business and has led to a decision to sell,” Michelle Kelly says.
“My father who is 91 still works here and we would love to continue running the nursery but we cannot anymore.”
The family business grew and turned into a local landmark and popular garden centre.
“We have customers who were brought here as children and who are now bringing their own children here,” Kelly says.
“Mum and Dad started with selling six photinia plants and me and my brother helped as well.”
The property comprises a retail nursery, garden supply business and a number of buildings and facilities.
“It can be commercial or residential, or a mix, and also could be a hospital,” Schroeder & Wallis director Billy Schroeder says.
“It is a significant site with priority development status and can accommodate projects of up to eight or nine storeys.”
530-532 Burwood Highway, Wantirna South is the latest in a series of prime sites being sold for development.
A popular cafe operates on the site and previous businesses there have included a pool shop, glass house centre and a drive-through coffee shop.
The block with dual access has high-profile exposure at the intersection with High St Rd and is near Westfield Knox, schools and apartments.
The listing had already attracted strong local and overseas inquiries, Schroeder adds. The sale is by expressions of interest ending July 31.
This article from Leader Newspapers originally appeared as “Banksia Nursery, Wantirna South nursery for sale as development opportunity”.
