Future Development Site Sold
// Friday, 11 November 2016
Conquest Estate Agency are pleased to report the sale of 2-14 Thistlethwaite Street, South Melbourne to a local architect/developer.
The existing two storey office sits on a land area of 908 sqm near the corner of Ferrars St, and is positioned within the Montague Precinct. The buyer is looking to capitalise on the 18 level height limit for the area.
The sale price was $6,000,000, reflecting a land rate of $6,607 psqm, which is said to be healthy when considering the property was sold without a permit and was unconditional.
The site was initially marketed by another major agency with a formal public Expression of Interest Campaign in June which did not produce a buyer on the terms that were acceptable to the owner. As a result Luke and Simon Conquest were then appointed to sell the property privately, and were able to secure a acceptable unconditional offer in the space of 3 weeks.
Another great result for one of our valued clients.