ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Off-Shore Developer Pays $7.2m For Doncaster Site

150804-1027-1029-Doncaster-Rd_620x380

An off-shore developer has paid $7.2 million at a record land rate for a Doncaster development site with plans for a retail and residential redevelopment.

According to selling agent, Savills’ Divisional Director, Nick Peden, who brokered the deal with Executive, Jesse Radisich, the price, at $4467 a square metre, represents a record land rate for Doncaster.

"The sale campaign generated very strong interest with nearly 150 enquiries from a range of buyers including local and off-shore developers, investors and owner-occupiers," Mr Peden said.

"We were expecting $6 million plus and with that sort of response in a strong market it was not that much of a surprise that the property sold for more than $7 million.

"It was also a reflection of the sort of results that can be achieved through a competitive on-market sale process."The 1612 sqm, 1027-1029 Doncaster Road property, is positioned in the midst of the East Doncaster retail precinct with extensive street frontage, exposure to an increasingly busy thoroughfare, and Commercial 1 zoning.

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://https://theurbandeveloper.com/articles/shore-developer-pays-7-2m-doncaster-site