A partnership including architect David Carabott has purchased a riverside Abbotsford block permit-ready for a five level office.
The 4047 square metre parcel at 42-50 Flockhart Street is understood to be costing just over $7 million ex-GST.
JLL’s Josh Rutman represented the Foti family, which paid $6.2m in 2017.
The redevelopment contains 4418 sqm over an underground car park (story continues below).
It would also offer unobstructed north and east facing Yarra River views.
Next door, site Forza Capital is seeking to replace a multi-level car park with an 11-storey office.
Elsewhere in Abbotsford, Mr Carabott, is co-constructing a seven floor development, Craftworks, at 20-30 Mollison St.