Salvo buy Southbank site through Savills
Jonathan ChancellorDecember 7, 2020
The Salvo Property Group has paid $6.28 million for a Southbank residential development site.
The 39-51 Hancock Street property is a vacant 632 square metre block on the corner of Clarendon and Hancock Streets abutting the Westgate Freeway.
Savills’ Nick Peden and Clinton Baxter, who brokered the deal, said the property was originally acquired by VicRoads in the 1970s for construction of the Westgate Freeway.
It was positioned within the Capital City Zone which permits and promotes higher density development up to 100 metres (or 33 levels) in height.
The Salvo Property Group has a reputation of creating affordable luxury.
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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