This article is from the Australian Property Journal archive
A DEVELOPMENT site within the local McKinnon retail and commercial precinct has been sold for $1.36 million after it was listed less than three weeks.
Located at 144 McKinnon Rd, approximately 12km south east of the Melbourne CBD, the property was sold by Just Commercial.
The property has a total site area of 482 sqm and a vacant building previously used as commercial premises, with a frontage of 13 metres.
Just Commercial director Steven Kalb said the property is zoned Business 1 and the purchaser is a developer with plans to demolish the existing structure with a view to building a four level residential project with one retail space at the street level.
“It was the sort of development property that is uniquely suited to a multi-level residential project with a very good position, easy access to public transport and within a key local development precinct of a good suburb,” he concluded.
Australian Property Journal
