Golden Age purchases permitted Grocon site

Leading Melbourne Development, Golden Age has acquired a well-known Spring Street development site located on the corner of Collins and Sping Streets from private development firm Grocon for a reported $75 million. 

The project has council approval of circa 225 apartments after a recent revised scheme undertaken by Grocon after the original 44-level design was knocked back by council. 

Grocon, headed up by Daniel Grollo purchased the site in 2012 for $45 million dollars which yielded a 16-storey office tower. 

The deal was handled by Mark Wizel, Lewis Tong & Josh Rutman of CBRE.

Original Article: http://www.afr.com/real-estate/golden-age-takes-ov... 

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