$25 million Brighton apartment development site listed by Redemptorist order

A beachfront site ripe for apartment development in Brighton, has hit the market. The property is being offered to the market for the first time in 60 years. Buyer interest above $25 million is expected. The 3,348sq m property is at 257 St Kilda Street, next to the prestigious Royal Brighton Yacht Club. It is currently a three-level seaside mansion occupied by the Redemptorist order. It is being taken to the market via an expressions of interest campaign run by James Thorpe, Stephen Kelly and Langton McHarg of Knight Frank clsoing December 8. “The property is zoned residential,” Mr Thorpe said. “The existing building could be retained for a future development, or the buyer could start with a blank canvass.” The property comes with frontage to St Kilda Street and Mytton Grove, with views over Port Phillip Bay and Brighton Beach. “Prior to launching the campaign we have already been fielding enquiries from developers, so we expect interest to rise once the property officially hits the market.” The Redemptorists, which have been in Australia since 1882, are a community of Catholic priests, brothers and lay partners whose task it is to communicate the Christian message. Their Brighton house has been a communication hub from which they published, the magazine called The Majellan. The 3,348 sqm site is one of the biggest development site offerings in the bayside suburb. The International on Brighton's coveted Bay Street, is being developed on a vast 4,100 sqm site in a joint venture between property developers, Landream and V-Leader.