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Fishermans Bend development site sells for $7.9 million

Property Markets / Transactions

Australia

Jun 28 2017

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Simon Johanson, The Sydney Morning Herald

MARKET WRAP

SALES

Port Melbourne

An owner-occupier has purchased one of the largest vacant land parcels in Fishermans Bend, which currently has a 12-level residential redevelopment permit in place, soon to be amended into a 12-level commercial development. Colliers International's Lachlan Dornauf, in conjunction with JLL's Lincoln Reynolds and Marcus Quinn, negotiated the sale of the 3362sq m development site at 101 Salmon Street for about $7.9 million. In another deal, Mr Dornauf, in conjunction with Raine & Horne Commercial's Francis Sbaglia, sold a 3362sq m office/warehouse in at 56-92 Langford Street in North Melbourne off market for $8.25 million.

Glen Iris

Two strata offices have sold within a week of coming to market, snapped up by self-managed super funds. Gorman Commercial sold the two suites at 1632 High Street on a yield of 5.2 per cent. One office went for $750,000, the other for $550,000. Low returns from bank deposits were driving alternative investment strategies, Alex Browne and Stephen Gorman said.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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