This article is from the Australian Property Journal archive
An international land banker has paid $20.6 million in cash for a row of showrooms at the doorstep of Melbourne’s CBD.
CBRE’s David Minty, Scott Hawthorne, Jing Jun Heng, Nathan Mufale and Trent Hobart negotiated the sale of the city fringe property located at 248-262 Normanby Road, South Melbourne.
The buyer acquired the property from different owners, resulting in various settlements periods of 14 days and six months.
The first lot at 256-258 & 260-262 Normanby Road was sold on behalf of receiver and manager PCI Partners.
The two side by side buildings comprise 1,550 sqm of floor area and occupy a 2,024 sqm and holds a capital city 1 zone, and was offered with a planning scheme allowing for a 20-level mixed-use development of the site, comprising apartments with retail & commercial tenancies.
