This article is from the Australian Property Journal archive
TWO adjacent Windsor properties have been snapped up by one local developer for $2.711 million.
CBRE’s Chao Zhang, Ed Wright and David Minty negotiated the sale of the two semi-detached homes at 43 and 45 Victoria St via auction, following a competitive campaign which received in excess of 150 enquiries.
The combined 415 sqm site is currently improved by two older style residences. The two individual local vendors banded together in order to appeal to developers.
Zhang said the auction saw over 100 people in attendance, with six local and offshore groups fiercely bidding for the site.
“The competitive bidding at the auction from both local and offshore groups for a hidden site such as this shows strong confidence in the market and a solid outlook for 2016,” she added.
“This sale continues CBRE Victorian Development Sites’ strong success in the sub $6 million development site market, with over $27 million worth of sales transacted in high quality locations over the past 3 months,” Wright said. “We are continuing to witness a significant amount of confidence from developers aggressively seeking strategic opportunities, which is a positive sign for market confidence in the early stages of 2016.”
Australian Property Journal
