1990s Millennium Properties Hawthorn townhouse tops weekend auction sales

Melbourne apartment and townhouse vendors secured a 68 percent success rate at weekend auctions.

Melbourne's clearance rate was well up on the prior weekend's 57 percent success rate.

The Melbourne median apartment/townhouse sale sat $698,000 from its 153 sales, with 53 results yet to be tabulated by Corelogic.

Its top sale was a three bedroom, three bathroom Hawthorn townhouse that fetched $1.6 million at 9/1 Muir St in the Yarra-Bank complex.

Its Kay & Burton/Noel Jones conjunctional price guide had been $1.35 million to $1.485 million.

The three storey townhouse last traded at $915,000 in 2009.

It was Millennium Properties’ first project in 1996, as a partner with Salta Properties on the $20 million development with 28 townhouses.

Millennium Properties Pty Ltd was established in 1996 as a 50/50 joint venture between Salta Properties and Psaltis Ryobi Group Pty Ltd.

Sam Tarascio Snr and Nick Psaltis commenced their association in 1985 on the Victorian Transport Centre (VTC) project which Salta was developing in Somerton, Victoria. 

The Millennium Properties website lists its latest project as Galada Gardens, Barry Road, Thomastown in the Whittlesea district following the rezoning of a 12 hectare site.