Burwood townhouse site sells at $1.1 million through Savills

Burwood townhouse site sells at $1.1 million through Savills
Burwood townhouse site sells at $1.1 million through Savills

A local Asian developer was successful in outbidding 15 other potential purchasers at a Burwood, Sydney development site offering.

It fetched $7.8 million through Savills agents Stuart Cox and Neil Cooke.

The 59 Park Road property in Burwood drew over 140 enquiries.

“This was a phenomenal result, smashing Burwood’s record price for townhouse land with this sale equating to $1,115,000 per townhouse site,” said Mr Cox.

The townhouses, once completed, could achieve $2 million plus .

The 1,833 square metre site comprises three detached dwellings with DA approval.

Zoned R3 Medium Density Residential, the development approval allows for seven luxury four bedroom townhouses situated directly opposite Burwood Park.

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.

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Townhouse Development Site

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