The area known as the Belgian Beer Cafe’s garden forecourt however, and up to the corner of St Kilda Road and Moubray Street, is earmarked for redevelopment.
Stockland never proceeded marketing apartments on the site given the economic downturn.
Elsewhere in the area, the developer is seeking a permit for a 32-level apartment complex at 2 – 4 Yarra Street, in South Yarra, which it is also expected to sell, as part of a move away from high density apartment developments.
Stockland recently paid $58 million for two housing development sites in Wollert, in Melbourne’s outer north.
A Stockland spokeswoman declined to comment about any St Kilda Road sale when contacted by Capital Gain. Hudson Conway did not return calls. Ernst & Young’s Marcus Willison, understood to also be involved in the transaction, was unavailable.