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.
