Ex-Courtney & Patterson dealership sold
Marwood Property has bought its second Melbourne development site in week – this time in the north east.
The developer and investor has paid $11 million for the former Courtney & Patterson car yard at 11 Yarra Street, Heidlberg.
Also exposed to Banksia and Dora streets, the 7918 sqm Commercial 1 zoned block is expected to make way for a commercial product, capitalising on the location near the Austin and Mercy hospitals.
Savills’ Tim Grant and James Latos were the agents.
The family of late Ron Patterson offered it and a neighbouring property in 2023.
The combined price expectation was over $26.5m (continues below).
Heidelberg is about 11 kilometres from the city.
Also this week realestatesource.com.au reported Marwood bought an outgoing Telstra exchange with a leaseback in Glenroy, north of town.
Last year it acquired an unrenovated St Kilda Road office.
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