Chinese developer buys 31 apartment Hawthorn development site

The site holds a permit for a luxury project of 31 apartments
Chinese developer buys 31 apartment Hawthorn development site
Jonathan ChancellorOctober 18, 2021
A Chinese developer has paid $9.7m for an apartment development site in Hawthorn. The site holds a permit for a luxury project of 31 apartments. The project has been designed by architects Jackson Clement Burrows at 43 Riversdale Road. The corner site has frontage of 34 metres to Riversdale Road plus 62 metres to Through Street. Zoned within a Residential Growth Zone 1, the site was sold through Benson Zhou, Julian Heatherich and Nick Garoni of Savills Australia. “The luxury apartment market continues to see unwavering demand from developers who are confident in strong apartment resales allowing them to compete aggressive to secure sites," according to Benson Zhou. He noted the level of enquiry seen on development sites in the past six weeks had increased substantially. The sales team took 152 enquiries throughout the campaign. Hawthorn’s median unit price sits at $1,453,750 for three bedroom apartments, according realestate.com.au.

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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