This article is from the Australian Property Journal archive
A PRIVATE developer has bought an apartment development site in Sydney's upper north shore for $12.5 million.
Located at 2-4 Culworth Avenue Killara, the property was sold prior to auction by Ray White Commercial NSW managing director Jeff Moxham and associate director Scott Timbrell.
The 2,986 sqm site was sold with a permit for a five-storey apartment building consisting 44 units.
Moxham said the property is ideally located in a highly active market favoured by Asian purchasers with the opportunity to take advantage of the current market conditions.
“There’s a record high demand for residential accommodation near transport and employment hubs from first home buyers, self-managed superannuation funds and investors,” Moxham said.
Australian Property Journal
