Interstate developers snap up two Melbourne sites

The Sunbury block sold for $11m.

An interstate developer is paying $11 million for a low density housing site in Melbourne’s north west Sunbury.

About 8.34 hectares of the properties, 26 and 30 Buckland Way, can be built on.

The land is classified within the Sunbury South Precinct Structure Plan.

The off-market campaign was brokered by Savills’ Benson Zhou.

Closer to town, another non-Victorian developer last month outlaid $5.05m for 313-317 Kings Way, South Melbourne.

On 297 square metres, this investment already contains a three level building with 15 apartments and a six bay car park (story continues below).

Rent is also derived from a rooftop sign (all up the asset earns $218,409).

Zoned Mixed Use, and with frontage to Cobden St and Kings Place, the address could be replaced with a c60m structure.

Mr Zhou, with colleagues Jesse Radisich, Mark Stafford and Nick Peden, were the agents.

More to come.

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Marc Pallisco

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

Marc Pallisco