The Report: Boroondara & Stonnington
Infrastructure and Local Insights
Strong investment continues to spur property market performance across Boroondara and Stonnington, which have long been sought after for their superb location and outstanding local amenity.
Stonnington and Boroondara’s renowned selection of private schools remains second to none, and this unrivalled reputation continues to spur market interest and confidence, with property in coveted government enrolment zones attracting premiums.
Major transport projects will soon transform the way people live and commute in the area, reducing congestion and further enhancing liveability. In one of Melbourne’s largest ever infrastructure projects, the new Metro Tunnel will take significant pressure off South Yarra Station when it opens in 2025. This will be a boon for those looking to make the suburb home and take advantage of its proximity to Melbourne nightlife, cafes and restaurants, and sporting precincts.
Updated designs for a new railway station in Surrey Hills have been released, fast-tracking the project to 2023.
The congested crossing will be removed by lowering the rail line to beneath the road and building a new premium station with better facilities and more services.
Avid cyclists are in for great news, with Gardiners Creek Trail between Burke and Elm roads in Glen Iris to be upgraded. The trail’s beauty, together with its proximity to sports grounds and easy access to public transport, make the area a popular recreation destination.
The mega redevelopment of the Jam Factory on Chapel St will now include up to 650 apartments on the iconic site. Construction is expected to be completed in 2025 if works start next year. Together with the Capitol Grand development, it will provide a focal point for the vibrant shopping precinct.
A $29.1 million restoration of Prahran Town Hall will breathe new life into one of Stonnington’s most iconic buildings, with a new library spread over two levels, a state-of-the-art council customer service centre and function areas.
The Malvern Town Hall precinct will also be improved with better pedestrian areas.
The $68 million new Kew Recreation Centre redevelopment is on track to be completed by mid-2023. This purpose-built facility will start to take shape in the coming 12 months as a modern fitness and aquatic facility for people of all ages and abilities.
Following completion of the Toorak Road level crossing removal, improvement works on Ferrie Oval at Sir Zelman Cowen Park in Kooyong are soon to get underway. This work will include reinstating the turf oval and cricket pitch and new spectator seats.
Stonnington and Boroondara remain hives of activity in the property market and major destinations for new infrastructure and development, which is adding another level of amenity to one of Melbourne’s most aspirational areas.
© Jellis Craig 2021