South Yarra residential development site with project potential listed
A residential development site has been listed for sale in South Yarra.
The site right across the road from the Yarra River will be sold by expressions of interest closing March 3 through Teska Carson.
Located at 125-127 Alexander Avenue, the 596 sqm property sits about 350 metres west of Chapel Street.
An older residential apartment building has been demolished had views across the Yarra River and into the City.
There is an 18 metre frontage to Alexandra Avenue.
Other developments in South Yarra
Teska Carson listing agents Luke Bisset and Matthew Feld anticipate a high end residential project with the zoning and local precedents providing scope for redevelopment of up to 12 metres (STCA).
When last offered as a development site in 2015 it was permit approved for seven apartments over four levels with CBRE advising it was “an unrepeatable permit due to new height controls in place on the Yarra riverfront.”
Kay & Burton offered luxury apartments for sale in 2018 and 2019, advertising the project as CXXV.
The permit approval has now lapsed.