This article is from the Australian Property Journal archive
Molti has bought three properties in Melbourne, marking its entry into the city’s market.
The Byron Bay-based developer acquired two apartment buildings across 11 and 13 Denham Street in the suburb of Toorak, 5km south-east of Melbourne’s business district.
The properties were purchased in an off-market deal brokered by Marshall White’s Justin Krongold.
The firm plans to construct premium residences on the two sites, which total 1,665 sq m.
Just 2km away in Armadale, Molti also snapped up 32 Mercer Road.
The 1,731 sq m site sale was managed by Marshall White’s Marcus Chiminello.
All three sites are in Melbourne’s prestige suburbs, close to leading private schools and public transport as well as the shopping precincts of High Street and Armadale.
According to Ben Teague, managing director at Molti, the company was focused on south-east Queensland and Melbourne’s premium suburbs, with geographic diversity part of an international risk management strategy.
“These sites represent our laser focus on our purpose and niche-superior sites, standard and scale. They reflect our commitment to selecting only the best opportunities that align with our strategic vision.”
Prior to its entry to the Melbourne market, the developer secured approval from Brisbane City Council for five single-floor luxury apartments in Kangaroo Point.
