Canterbury development site sold

Former Cronulla Sharks chairman and rugby league player Glenn Coleman has pocketed millions on his Canterbury development site.

Coleman sold the Broughton Street property for $7.5 million having bought it from State Rail for $140,000 in 1992, with added further to the site the following year, paying $265,000. It was sold to a local developer, Buildform.

A 1,405 square metre parcel has development approval from Canterbury Council for a seven-level residential apartment building. The site is adjacent to Canterbury railway station in Sydney’s south-west.

It sold through Marcello Bo and Peter Apostolou from Ray White Project Di by auction at the rooms at AuctionWORKS in the Sydney CBD, in conjunction with Ray White  Commercial NSW Managing Director Jeff Moxham.

David Scholes, founder and principal of auctionWORKS, was presented with the top prize at the Real Estate Institute of NSW’s annual awards for excellence, this month.

David Scholes received the Woodrow Weight Award for outstanding service to the industry.