Another Sale in Bennetts Lane Jazz Club Precinct

A week after a site big enough for six cars sold for $1.1million, or 70% over reserve, a two-level office building at 4-8 Bennetts Lane has sold for $2.5 million to a Sydney-based owner-occupier. Knight Frank’s Clinton Baxter and Langton McHarg negotiated the sale.

They say more than $13 million of development sites have traded in the area in the past year.

Mr Baxter said the tide turned for Bennetts Lane when developer Brady Corporation bought a disused petrol station to develop a 26-level apartment tower now under construction.

Jim Foulis sold the plumbing business site he held for 50 years, followed by socialite Patty Landau, who owned a warehouse and home on the street worth almost $4 million.

Changes to the area include the proposed redevelopment of the Wesley Church site for a 14-level office building, and the construction of the Barton Tower, which will include 274 apartments.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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