Flemington townhouse site trades for c$6.5m between developers

The site (highlighted) is one holding from Mt Alexander Road – also the Travancore border.

A townhouse development site in Melbourne’s inner north west Flemington has sold for c$6.5 million between builders.

The 1882 square metre parcel, 147-157 Princes Street, is permit ready for 23 dwellings.

The vendor had been marketing these homes for pre-sale under a project branded Watson of Flemington.

All include two car parks.

Twenty of them are designed with three bedrooms.

The parcel is near the north west corner of Mt Alexander Road, also the Travancore border, and Flemington Bridge train station (story continues below).

The city is about three kilometres away.

Savills’ Benson Zhou, Julian Heatherich and Jesse Radisich marketed 147-157 Princes Street for private sale.

The deal comes in the same week a 5712 sqm Ascot Vale site approved for 38 townhouses sold to a local development group.

Five months ago, a 2.1 hectare parcel with permission for 107 townhouses in Mill Park traded between developers for a speculated price of less than $13m.

The 1882 square metre block is permit-ready for 23 townhouses, all with two car parks.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.