Toorak townhouse site sells for $3.85 million

Toorak townhouse site sells for $3.85 million
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.

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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Toorak Residential Development

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