This article is from the Australian Property Journal archive
A CONTROVERSIAL development site in Melbourne’s growing inner-west suburb of Maribyrnong has sold for $9.34 million.
The partially-built property at on the 5,078 sqm, 31 Edgewater Boulevard island site was reportedly picked by 94 Feet and Hamilton & Marino Builders. It has been in limbo since an agreement with AFL club the Western bulldogs and developer Prizac to build the Club Edgewater gaming, apartment and hotel complex fell apart, and sold with approval for new plans that include 90 apartments, 72 hotel rooms and retail and office space across eight levels.
Selling agents Knight Frank’s Tim Grant, Danny Clark and Stephen Kelly said more than 200 enquiries and 13 offers were received for the property, which is located within the Edgewater Estate, next to its Aldi supermarket.
The agents marketed the site with an agreement for lease in place with an “experienced hotel operator”.
The Bulldogs had initially pre-leased ground-floor space with intentions to install 70 gaming machines, but eventually sold off its gaming entitlements. That would have been part of a complex with as many as 40 hotel rooms and 12 two-level apartments.
Edgewater is located close to the Maribyrnong River, between Flemington Racecourse and Highpoint shopping centre.
Australian Property Journal
