Buxton Projects secures Malvern East townhouse site

The site sits within the popular Stonnington municipality

Buxton Projects secures Malvern East townhouse site
Buxton Projects secures Malvern East townhouse site

Buxton Projects has purchased a park-front Malver​n East site for $10.5 million.

The 3987 sqm site at 50 Sycamore Street will likely become a townhouse project.

It was sold by Colliers agents Hamish Burgess and Joe Kairouz after offers closed in mid-October.

Set close to Waverley Oval, it was described as an "unrepeatable and scarce development proposition in a quality inner eastern location."

Another site is currently for sale with approved plans and permits for seven 2-bedroom apartments and two contemporary 3-bed townhouses designed by Cactus Architects.

The 867 sqm site at 74 Chadstone Road, Malvern East is for sale through Thomson Malvern with a $2.5m to $2.7 m price guide.

Developers often face competition from local schools for sites.

In 2017 the site at 385-387 Wattletree Road, Malvern East was sold for $12,650,000 to Caulfield Grammar.

The 2230sqm site opposite Central Park, delivered the two vendors a $5650 a square metre windfall.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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