The China based developer which paid Allison Monkhouse directors $10.15 million for a prominent Wantirna South funeral home four years ago, has flipped it.
The 7610 square metre site, 390 Burwood Highway, on the south west corner of Stud Road, is trading for $13.3m this time around.
It wasn’t offered with a permit – though was promoted for its potential to make way for a high-density apartment with buildings of more than 10 floors.
CVA’s Daniel Philip – who sold it in 2017 – has transacted it again.
The incoming owner is as yet undisclosed interstate developer.
The deal comes two months since we reported Up Property spent $6.42m on a 7386 sqm townhouse site at 500 Stud Rd, opposite Mirvac’s Harcrest estate, in the suburb (story continues below).
In April, Stockland paid Longriver $60m for a former caravan park, on 8.33ha, also with plans for a medium density residential community.
Oz Property Group is also intending a major local project on the 1.25ha ex-Wantirna Heights Primary School block – for which it paid $9.71m 12 months ago.
More to come.
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