This article is from the Australian Property Journal archive
A LOCAL developer has paid $6.3 million for a 1,278 sqm development opportunity in Melbourne’s popular inner-north suburb of Brunswick East.
The vacant 5-13 Clarke Street property sold under the hammer after competition between four parties, including the eventual new owner, in front of a crowd of 50 people.
Zoned Mixed Use, it has three street frontages, including of 48 metres to Clarke Street, and currently has a single level 980 sqm warehouse.
Teska Carson’s George Takis and Michael Ludski sold the property, which was offered to the market for the first time in 40 years.
Ludski said the Brunswick area was evolving at a rapid rate with residential and commercial developments in the immediate vicinity providing property owners with excellent growth prospects.
“Inner Melbourne continues to provide property investors, developers, and occupiers with significant upside as the city continues on its upward growth trajectory, and it is no coincidence that Brunswick East has been among the favorite destinations for both commercial and residential tenants,” he said.
Australian Property Journal
