Toorak townhouse site sells for $3.85 million

A vacant Toorak block of land fetched $850,000 above reserve when four developers fought for the weekend auction offering.
It came with planning permits for the 658 square metre block at 7 Monomeath Avenue.
The approval was for two luxury townhouses.
Bidding opened a $2.8 million, RT Edgar’s Mark Wridgway who announced the lot on the market at $3 million.
It sold for $3.85 million.
It last sold for $3.6 million in 2015 and $2 million in 2010.
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