Launch Corporation has sold a Hampton building block after three years fighting neighbours and Bayside City Council to develop it.
The 3662 square metre tract covering 28-32 Service Street has fetched $17.325 million from local outfit Noetic Corporation.
Launch outlaid c$14.6m in 2019.
At the time the holding accommodated four historic homes, which the council then moved to have heritage listed, unsuccessfully (the state government directing Bayside to its own report passing up the option to protect the properties in 1999).
A subsequent application to replace the vacant land with a three storey, 36-dwelling complex and rooftop pool (artist’s impression, top) also failed, late last year, via the Victorian Civil and Administrative Tribunal.
Second time luckier
Led by Stephen and Lawrence Barrow-Yu, Noetic is no stranger to Hampton, having just completed its medium density Reunion Place on Linacre Road.
Penned by Fender Katsalidis, that three level project contains 24 dwellings around an Eckersley garden.
The Service St property, 450 metres from the suburb’s train station and a little over that to the beach, is zoned both General Residential and Activity Centre, and expected to make way for a similar quality development.
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