This article is from the Australian Property Journal archive
A LOCAL developer has purchased a vacant 4,607 sqm landholding close to Chadstone Shopping Centre for $9.128 million.
Zoned General Resedential 2, the 1-9 Allen Street property in Melbourne’s south-eastern suburb of Oakleigh was marketed as a “prime location for aged care oR luxury residential development”, positioned 320 sqm from the megamall and with 115 metres of frontage to Allen Street and 63 metres of park frontage, to the Scotchmans Creek Trail.
It sold with a single-level building formerly used as a respite care centre.
Julian Heatherich, Nick Peden and Mark Stafford of Savills negotiated the private sale.
The price reflected a land rate of $1,981 per sqm.
