This article is from the Australian Property Journal archive
ANOTHER Ormond property with residential development approval has changed hands, with a 707 sqm site at 235 Grange Road selling for $1.7 million.
It comes just days after a mainland Chinese group paid $3.38 million for the nearby 1,254 sqm site at 291 Grange Road and 4 Walsh Street, which has a permit for 23 apartments.
Zoned Residential 1, the vacant 235 Grange Road property sold with approval for a project with seven townhouses, at a land rate of $2,405 per sqm and unit rate of $242,857 per unit.
Savills agents Jesse Radisich, Nick Peden and Benson Zhou negotiated the sale, while Radisch, Zhou and colleague Julian Heatherich handled the previous deal.
The 235 Grange Road site is positioned close to the North Road retail precinct close to the recently revamped Ormond train station.
Australian Property Journal
