Densities, Values of Bennetts Lane Site Booms in Two Years

CVA director Anthony Carbone expects the site to sell for about $2.4 million this time around with a permit.

Mr Carbone said developer appetite for residential development sites, particularly in locations such as around the Bennetts Lane Jazz Bar is very strong.

Earlier this year Mr Carbone sold a 1526 square metre development site at 33 – 43 Batman Street, West Melbourne for about $8 million.

Like Bennetts Lane, the Batman Street property – an old warehouse – was listed for sale with a permit (for a 14-level, 136 unit complex).

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Marc Pallisco

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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