Apartment site in Melbourne’s Footscray sells for $2.3 million

Apartment site in Melbourne’s Footscray sells for $2.3 million
Apartment site in Melbourne’s Footscray sells for $2.3 million

A mixed-use development site in Melbourne’s Footscray has sold for $2.3 million before auction.

The 34 Moreland Street property has a permit for building 22 apartments over five levels and a ground floor commercial tenancy. 

The 370 sqm site sold on a unit rate of $104,545 per apartment and a land rate of $6,216 per sqm. 

The selling agents were Fitzroys’ Michael Ryan and James Gregson alongside Colliers’ Andrew Ryan and Hamish Burgess. 

The mixed-use zoned corner site comprises a single-level warehouse tenanted to pilates operator White Dog Studio on a three-year lease ending March 2018, returning $36,050 per annum. 

The permitted development of 1,271 sqm includes two and one-bedroom apartments and basement car parking. 

The site is located within the Footscray Activity Centre and close to Footscray Railway Station and Victoria University. 

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Footscray Warehouse

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