Two Hughesdale potential townhouse development site sold

Two Hughesdale potential townhouse development site sold
Two Hughesdale potential townhouse development site sold

Two inner suburban properties offered at recent auction by agents Gray Johnson have been purchased by developers proposing either townhouses or a mix of commercial and residential projects.

They are reflective of the strong current market demand for townhouse development sites in particular.

They were offered as surplus to the needs of a major corporate, with architectural conceptual plans prepared for potential developments.

The property at 570 Neerim Road, Hughesdale was auctioned as a vacant site with a developable area of approximately 590 square metres and a street frontage to Neerim Road of 15 metres.

Holding a general residential zoning, it sold at auction for $1,119,000 to a developer who will consider a townhouse project for the site.

Another property, known as part 101 Cape Street in Heidelberg, has a developable area of approximately 309 square metres with a frontage of some 17 metres to Sheffield Lane and holds a commercial 1 zoning.

It sold at auction for $1 million to a developer believed to propose a mixed use multi-level commercial and residential project.

Gray Johnson director Matt Hoath says that this property is in close proximity to Heidelberg’s primary retail and services strip along Burgundy Street.

This includes the Warringah Shopping Centre, with easy access to the Mercy Women’s and Austin Hospitals and the Heidelberg Station.

Tags: 
Melbourne Residential Sales

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