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Written by Marc Pallisco
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Monday, 01 March 2010 12:56 |
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HIGH rise apartment builder Brady Group has decided to offload a residential development site in the Melbourne CBD’s trendy Bennetts Lane Jazz Club precinct.Melbour
Brady Group paid $1.65 million for the 113 square metre development site in 2007, using a building on the property as an office, while it developed a much larger 35-level tower nearby.
The development site, at 132 Little Lonsdale Street, could itself make way for a 35-level apartment project, or higher, as there are no practical building height controls in the area, Savills marketing agent Clinton Baxter says.
Brady can expect about $2 million for the site which is auctioned next month.
The property is near a 30-level apartment proposal at 122 Little Lonsdale Street, currently being objected by the National Trust, because the application includes the demolition of two 155-year old terraces.
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