A Chinese Developer has secured a development opportunity in Arden Macaulay precinct of Kensingson for $4,300,000, reflecting a land rate of $4,228.
The site covers 1,017sq, sqm and was sold by CBRE's Julian White, Josh Rutman and Chao Zhang.
The irregularly shaped site posed many future development hurdles however the close proximity to the CBD was too tempting for developers to pass up
The site falls under a Mixed Use Zoned landholding sold without a permit.
AREA: 1,017 sqm*
LAND RATE / SQM: $4,228*
BUILDING RATE/ SQM: $6,466
BUYER: Chinese Developer
SELLER: Local Occupier
AGENT: Julian White, Josh Rutman & Chao Zhang, CBRE Victorian Development Site Sales
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