The Ralph D’Silva Motor Group is selling 572-582 High St, Preston.
A well-known automotive dealership group is looking to key in a mid-$3m sale for a prominent site in Melbourne’s north.
The Ralph D’Silva Motor Group has put their car display yard at 572-582 High St, Preston, on the market.
The 1293sq m property’s online listing suggests its potential future uses could include retail, hospitality, commercial, healthcare or a mixed-use development, subject to council approval.
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Located near the corner of Wurruk Ave, the address is 450m from Regent train station and about 9km to Melbourne’s CBD.
The family-operated Ralph D’Silva Motor Group has grown to acquire franchises such as Nissan, Mitsubishi, Hyundai, Suzuki, GWM and General Motors Specialty Vehicles, since being established almost 30 years ago.
Mr D’Silva remains involved in the business as chairman while his son Jason D’Silva now serves as managing director.
Commercial real estate agency Colliers’ Philip Heberling and Ervin Niyaz are managing the sales campaign.
The High St address is 1293sq m in size.
Mr Niyaz said the motor group was selling the High St site as it had become surplus to its needs.
About 30 buyers have been in contact about the property since it was listed about a week ago, he added.
The inquiries have mostly come from would-be local owner-occupiers but also purchasers based in Sydney, Brisbane and Adelaide.
“The primary groups have been either in the car wash space, a few in fuel, car display or showrooms, a few in fast food asking as to whether it would be possible to have fast food on-site and also a few in healthcare,” Mr Niyaz said.
There are currently no planning permits associated with the land parcel which more than 18,000 vehicles drive past every day.
The Preston site is surrounded eateries, retail and services businesses, schools, healthcare and childcare services.
Mr Heberling said that demand for well-located development sites across Melbourne’s middle-ring suburbs remained strong, particularly where planning controls supported a broad range of commercial and mixed-use outcomes.
“This property combines excellent connectivity, strong surrounding amenity and planning flexibility, making it an attractive proposition for developers looking to capitalise on Preston’s continued growth,” he said.
The property is zoned as an activity centre and features 35m-long frontage to High St.
Expressions of interest close at 3pm on September 10.
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