A builder who picked up an Armadale block of flats on a long settlement two years ago has onsold it.
The 2043 square metre site at 97-99 Kooyong Road is trading for $11 million.
It contains a c1962 three-level blonde brick complex with 27 dwellings, almost all configured with a bedroom.
Given the zoning, the land has limited development upside – a new project couldn’t rise taller but it might have more efficient (basement) car parking (story continues below).
It abuts the five level Alara complex under construction at 959 High Street.
Armadale is about six kilometres south east of Melbourne.
Gross Waddell ICR’s Danny Clark and Andrew Waddell marketed 97-99 Kooyong Rd to investors, renovators or developers, including of townhouses.