Glen Waverley record development site flip

Glen Waverley record development site flip
Glen Waverley record development site flip

A development site with a three-bedroom house in Glen Waverley sold for a record $6 million at weekend auction.

The 1538 square metre knock-down at 17 Marriott Parade was advertised as a "great opportunity for a four-storey apartment complex". 

Documents from the Victorian land titles office show the property last sold for $4.71 million on June 19, 2015, to Marriott Pty Ltd, with Fen Gao listed as the director.

"The gentlemen bought and either changed his mind or had other projects in mind he wanted to focus on and put it back on the market," Barry Plant agent Tony Ievoli told Fairfax Media.

 Tony Ievoli said the recent approval of a major redevelopment of The Glen shopping centre nearby may have added impetus to the bidding.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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