This article is from the Australian Property Journal archive
A prized major development site in the inner east suburb of Hawthorn has been snapped by a local private developer for $4 million.
The property was sold by private negotiation after auction.
The site is one of the last opportunities available in one of the Melbourne’s premium residential streets.
Located at 6 and 6A Lisson Grove, selling agents Kliger Wood Real Estate sold the property on behalf of the Victorian State Government.
The property with a coveted northern aspect has been unused for some years and the two buildings on site were formerly occupied for special accommodation purposes.
The property has a total land area of 3,697 sqm with a frontage of 36.34 metres to Lisson Grove just east of Power Street and holds a Residential 1 zoning.
Two older style buildings currently occupy the site, which has no Heritage Overlay planning requirements.
Kliger Wood’s Nick Breheny said redevelopment sites of this scale which benefit from a prestige location, significant size and potential are increasingly rare in Melbourne’s coveted inner suburbs.
“Kliger Wood considered the property offered a range of potentials with the requisite approvals, from an apartment or residential development or subdivision, or even a special purposes project such as an aged care facility,” he added.
The 6 and 6A Lisson Grove Hawthorn property was initially offered at an onsite auction on Wednesday 19 April with terms of a 10% deposit and settlement in 60 days.
By Adam Parsons
