This article is from the Australian Property Journal archive
A HEIDELBERG property with potential for a multi-storey development has sold over the weekend for $1.76 million.
Located 13km north-east of Melbourne’s CBD, the 64 Yarra St Heidelberg property was sold at auction by Gross Waddell’s Jamie Stuart and Andrew Waddell.
Stuart said the 719 sqm site was a prime Heidelberg development site with a multitude of options.
“The auction was well attended with crowd in excess of 40 buyers and 4 bidders. The property sold at a solid rate of $2448 per sqm on the land.
“These sites are in high demand due to the proximity to shopping strips, public transport, schools, parks and renowned medical facilities, not to mention the corner position and dual street frontages.
“The property has the potential for multi-level development (STCA) and has two street frontages: Yarra Street (18.29 metres) and Hawdon Street (39.32 metres),” Stuart said.
Gross Waddell recently sold another development site at 8-10 New St Richmond after auction to a private developer for an undisclosed price.
The 448 sqm site is currently improved by a 890 sqm building and it was sold with a permit for 19 apartments, café and 12 car spaces designed by Clarke Hopkins Clarke. The property has a short term income of $50,000 per annum gross.
Agents Jonathon McCormack and Andrew Thorburn said the auction was well attended with a crowd in excess of 30 buyers and three bidders.
Australian Property Journal
