Developer CD Group has acquired a development site in Melbourne's Hawthorn for $6.28 million, according to The Australian.
The property at 382-386 Burwood Road, Hawthorn comprises two retail buildings leased to a Korean restaurant.
The 836sqm site was sold by Teska Carson agents Anthony Choi, Tom Maule and Michael Taylor on behalf of a Chinese family. The site is zoned Commercial 1.
"Given its location wiht access to first-rate amenities including shopping, public transport, schools, parklands and leisure facilities, and three street frontages, it has exceptional potential for an apartment development," Teska Carson agent Tim Maule told The Australian