Armadale blonde brick flats trade for $11m

The 1962 complex with a Besser block fence is likely to stay because the land won’t allow for something taller.

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.

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Marc Pallisco

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

Marc Pallisco