Developer Morry Scwartz Continues to Offload Melbourne Assets

Residents of the building, near the corner of Toorak Road, and with rear access to tree-lined Arnold Street, have been moving in since about Christmas.

In 2004, Mr Schwartz paid $6.4 million for the 1887 square metre site, formerly the derelict Kings Cross Plaza retail centre, before undertaking a redevelopment.

Earlier this week, the Melbourne-based builder’s development company sold an 1857 square metre Mackenzie Street development site to Singapore-based Chip Eng Seng Corp for $20.2 million, with a permit for a 32-level, 388-unit apartment complex.

Mr Schwartz development company, Pan Urban, paid $10.5 million for that site in 2008.

 

Related articles:

Morry Scwartz Sells Melbourne CBD Development Site he Couldn’t Get Off The Ground

Pan Urban Starts Construction of Major A’Beckett Tower Building, Despite Economic Backdrop

Construction of A’Beckett Tower to Start Soon

Morry Scwartz Buys CBD Development Site

Interior Designer David Hicks Pays $3 Million For St Kilda Road Apartment

 

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Marc Pallisco

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

Marc Pallisco

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