A private investor and local developer has purchased a residential development site in Sydney's southeast at auction for $5.51 million.
The property, located at 278 Bunnerong Road, Hillsdale in Sydney is 4,603 square metres and is earmarked for residential development.
The parcel of vacant land, is within walking distance of the Southpoint Shopping Centre and Westfield Eastgardens.
JLL's John Macree, Leslie Cheng and Dylan McEvoy brokered the deal.
The Sydney Morning Herald reported Mr Macree said, “It was a spirited auction, with 30 bids received, and came down to steep competition. The sale and interest in the property confirms the strength of the residential development market in Sydney’’.