City Peugeot Site Sells, Elizabeth Street Melbourne

It’s expected the 792 square metre site will be cleared to make way for a high density apartment project.
ICR Property Group director Raff De Luise confirmed the sale when contacted by Capital Gain, but declined to elaborate on other parts of the deal including buyer or price.
Elsewhere in the area, the University of Melbourne recently paid Drapac about $37 million for the prominent City Ford site at 750 Elizabeth Street, which will eventually make way for a new Medical School.
Last April, affordable housing developer Yarra Community Housing paid about $8.5 million for the Ridgeway Plumbing site at 660 – 670 Elizabeth Street, which is being redeveloped into an 11-level, 160-unit social housing complex.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of