Colliers Achieve Top Sale Result for Prime Carnegie Site

Colliers Achieve Top Sale Result for Prime Carnegie Site

March 2017
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Colliers Achieve Top Sale Result for Prime Carnegie Site

The Colliers International team of Hamish Burgess, Andrew Ryan and Matthew Alderman achieved a top result with the recent sale of 100-104 Mimosa Road, Carnegie.

This substantial landholding of 2,184m2, zoned Residential Growth Zoning and allowing for four (4) levels was purchased by a local developer following an Expression of Interest sales campaign.

Competition to purchase this site was extremely competitive amongst the development market segment given its Carnegie location, in addition to the site’s suitability for an ultra-luxurious development project. Supremely located in a premium pocket of Carnegie within walking distance to an abundance of public amenity, retail, dining, transport and more. Equally this location’s ease of access to some of Melbourne’s main road arterials plus Chadstone Shopping Centre are major positives.

Opportunities such as this are extremely rare and highly sought after. This was reflected in the amount of interest we received throughout the marketing process that also transpired into the amount of Expression of Interests, we received. It was a highly competitive process that saw the price driven to its maximum. The purchaser intends to deliver a high-end residential apartment product targeting owner occupiers.” Hamish Burgess, Colliers International

Andrew Ryan added: “This site suits an ultra-luxurious development offering an unrivalled lifestyle environment to future residents.”

“Supremely located on the door step of Carnegie’s retail and culinary precinct, moments from Carnegie Train Station and within easy access to major arterials Dandenong Road and Monash Freeway.”

“Carnegie’s median house price is currently at $1,313,500 and these individual houses are worth approximately $1.8 million each in their own right, there is considerable uplift in the end value of these home when they come together with their neighbours to create these ‘super-sites’ in this case it was approximately 21% increase in value per home.”

Sale Price: $6,552,000

Sale Date: March 2017

Land Area: 2,184sqm

Rate/M. Land: $3,000/m.

Zoning: Residential Growth

Method of Sale: Expression of Interest

Vendor: Private

Purchaser: Local Developer

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