Ex-Courtney & Patterson dealership sold
Marwood Property has bought its second Melbourne development site in a week – this time in the north east.
The developer and investor has paid $11 million for the former Courtney & Patterson car yard marketed as 11 Yarra Street, in Heidelberg.
Also at the busy corner of Banksia and Dora streets, the 7918 square metre Commercial 1 zoned block is expected to make way for a commercial product, capitalising on the location near the Austin and Mercy hospitals and Heidelberg Magistrate’s Court.
Savills’ Tim Grant and James Latos were the agents.
The family of late Ron Patterson offered it and a neighbouring property, the former service centre, in 2023.
That site – with the potential to accommodate a 10 level building – sold for $7.2m at the time (continues below).
The combined price expectation was over $26.5m.
Heidelberg is about 11 kilometres from the city.
Also this week realestatesource.com.au reported Marwood bought an outgoing Telstra exchange with a leaseback in Glenroy, north of town.
Last year it acquired an unrenovated St Kilda Road office.
Subscribe to our newsletter at the bottom of this page.
