Brighton land development sold for $11 million through Savills

Brighton land development sold for $11 million through Savills
Brighton land development sold for $11 million through Savills

A 1958 sqm land development at Brighton has been sold for $11 million.

Located at 448 St Kilda Street, the site was purchased by an offshore Chinese investor.

It sold through Savills agents Benson Zhou, Julian Heatherich and Dorothy He.

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Brighton land development sold for  million through Savills

It is opposite Head Street Reserve with Elwood Beach and Port Philip Bay not far from it.

The CBD is only 8.5 kilometres away.

It has approval for a high-end low-rise residential development.

Mr Zhou said "Brighton continues to stand out as one of the highly sought-after suburbs by savvy developers who look to capitalise on the ongoing demand for luxury projects.

"The recently approved permit generated a significant windfall for the vendor who paid $6,350,000 for the site 3 years earlier."

Brighton land development sold for  million through Savills

Mr Heatherich said that developers were continuing to snap up luxury projects at every opportunity, being sold immediately after our recent sale of a luxury project at 553-555 Burke Road, Camberwell for $9,188,888 to local developer Kokoda.

He said the design of the project and its location in close proximity to Elwood beach, Ormond Road retail precinct and Brighton village was the driving force that ultimately attracted several offers before the public launch.

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Savills Brighton

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