Vacant Melbourne CBD allotment picked up prior to auction

Vacant Melbourne CBD allotment picked up prior to auction
Vacant Melbourne CBD allotment picked up prior to auction

A vacant site with approval for residential development in West Melbourne has sold prior to auction to a Chinese investor for an undisclosed sum.

Demonstrating the sustained demand for land banks in this precinct, the deal for 143 Rosslyn Street was struck at a rate of $12,526 per sqm, brokered by Colliers International.

The 112 sqm site has a permit in place for nine apartments and one retail venue or office, equating to $155,888 per unit site.

The selling agents were Daniel Wolman, David Sia and Oliver Hay of Colliers.

The property has changed hands four times since 2013, according to RP Data, although the value of the transactions were not available.

The West Melbourne location is well serviced by public transport.

Tags: 
Commercial Property West Melbourne

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