The property was offered with a permit for a $40 million, 25-unit high end apartment complex, with towers rising four and five levels. However it was widely expected any new owner of the site would propose a much higher density project.
Now, it is likely existing buildings on the university site will be flattened giving neighbours in Madden Grove, Berkeley and Sylvan courts outlook, and light.
Gross Waddell’s Andrew Waddell and Andrew Greenway marketed the Madden Grove site for a private developer last November, but declined to comment on any part of the sale when contacted by Capital Gain.
Elsewhere in the area, in 2007, residents around Linda Grove, Hawthorn, paid the Hawthorn Football Club $2.5 million for its outgoing social club building at #37. That site has now been subdivided for low density residential housing, ending ambitious plans the club had to convert the property into a medical centre or major aged care facility, before sale.