Handy Little Profit For Melbourne Developer
Melbourne-based developer Little Projects has sold a significant site in Melbourne’s St Kilda for $2.9m to local private investors.
Burgess Rawson auctioned the St Kilda site, which included two shopfronts at 161 and 161A Fitzroy St, on 5 August 2015. The shops are securely leased to Anytime Fitness and Scout House, with annual rent reviews.
They sit beneath Little Projects’ Halo site, which sold out prior to completion in March 2013, and features 157 apartments within a striking ten level design by Ascui Edwards Architects.
Little Projects Managing Director Michael Fox said he was pleased with the sales result in Melbourne.
He said Little Projects had decided to offload the St Kilda site so it could focus on upcoming projects in Richmond, Malvern East and South Wharf.
Little Projects also sold a site in Sydney's Camperdown this month for $5.75 million.
