Brunswick East development site sold for $6.3 million

A Brunswick East development site has been sold for $6.3 million.

Marketing agents, Teska Carson’s George Takis and Michael Ludski, said that a local developer has outbid three competitors among the 50 strong crowd for the 1278 square metre property at 5-13 Clarke Street.

They said the result reflects a near record $4930 a square metre.

The property is Zoned Mixed Use, has three frontages and includes a single level, 980 square metre, warehouse.

“The property offered exceptional development potential in one of Melbourne’s fastest growing city-fringe locations, just five kilometres from the centre of Melbourne, within 1.5 kilometres of CityLink and within close proximity of all essential amenities,” Takis said.

“As such it offered developers, and occupiers, an opportunity to take advantage of the significant demand for commercial and/or residential property in one of the city’s most popular inner suburbs.”

Ludski said the Brunswick area was rapidly evolving.