Prahran development site sells for $20 million plus
An inner-city development site, at 70-88 Greville Street and 42 Charles Street in Prahran, has been sold.
The buyer, reportedly a local private developer, paid more than $20 million.
It is a 2,662 square metre site suitable for a mixed-use residential and retail project. It was the first time offered in 25 years.
For a time The Voluntary Euthanasia Society of Victoria had its office at 70 planning minister Richard Wynne.
The site was listed by Mark Wizel and Jamus Campbell of CBRE City Sales.
More than $23 million has been paid for a full city block in Collingwood too.
The 2010 square metre island site, bounded by Wellington, Langridge, Cambridge and Derby streets, sits within Collingwood’s so-called golden pocket.
“Rewind several years and few people would have expected that land in Collingwood and Prahran would be achieving in excess of $10,000 per square metre,” Wizel said.