Melbourne's Hawthorn East site fetches $1.77 million at auction

Melbourne's Hawthorn East site fetches $1.77 million at auction
Melbourne's Hawthorn East site fetches $1.77 million at auction

Two adjacent properties in Melbourne's Hawthorn East, placed on the market together, fetched $1,770,000 at auction, equating to more than $4,600 per square metre.

The properties at 5 & 7 Redfern Road comprise a total site area of 384.2 square metres, creating a larger site for future development.

The buyer, a local developer, intends to develop the site into a boutique residential apartment project, subject to planning approval. The site is zoned Commercial 1.

The property, which features two titles and a rear 6.4 metre wide carriageway access, is close to shopping areas, cafes and railway station.

Ian Angelico and Jarrod Moran of CVA Property Consultants sold the property along with the Melbourne Commercial Group.

Tags: 
Residential Sales Commercial Market

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