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 our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Toorak Residential Development

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