This article is from the Australian Property Journal archive
MORE than 150 enquiries were received for a Glenferrie Road hilltop site with approval for a luxury townhouse development in Melbourne’s popular inner-eastern suburb of Hawthorn, which sold for $3.575 million.
The 1,011 sqm 504 Glenferrie Rd Hawthorn property sold at a unit rate of $893,750 per unit. The approved development comprises four high-end four-bedroom homes, each with two garages and rooftop terrace.
Colliers International’s Bryson Cameron, Hamish Burgess and Jun Lai sold the property.
It is positioned close to the intersection of Riversdale Road, offering easy access to multiple tram routes, and St Kevin’s College, Scotch College and Swinburne University.
“Approved sites in blue chip areas such as Boroondara continue to attract strong interest from developers,” the agents said. “The desire to provide a high quality owner occupier product is prevalent in the development site market at present and the sale of 504 Glenferrie Road reflects this sentiment.”
Currently improvements include a five-bedroom dwelling returning $2,600 per month.
Australian Property Journal
