Lucent snares Northcote townhouse site

A Google Street View image of 84-96 Bastings Street.

Lucent is understood to be paying well over $20 million for a former bacon and cured meat manufacturing plant, in Northcote.

The 6131 square metre site, 84-96 Bastings Street, is earmarked for townhouses.

Vendor Waratah Properties, formerly known as Steiger & Boehm, acquired it in 1973.

The holding accommodated a food processing factory between the late 1800s and 2006.

“Following significant work to remediate the site we were able to secure a strong result for our vendor, which was underpinned by the site’s location in a thriving inner-urban residential area,” Colliers’ Joe Kairouz, said.

Colleague Hamish Burgess, who co-marketed the block with Jozef Dickinson, added Northcote’s median house price has grown nearly 50 per cent since 2019 to $1.75m.

Elsewhere in the suburb, in June, Beulah launched a townhouse project, The Wylds, at the western end Cunningham St, near Merri Creek – believed to be the spot Batman’s Treaty was signed (story continues below).

Last year, Wilbow Corporation paid $4.4m for an office with high density development upside on 1027 sqm at 48 High St.

LAS Group is also proposing a mixed-use project, Northcote Green, on strata titled pieces of Northcote Plaza acquired for $35m 24 months ago.

Chip Eng Seng also holds a significant medium density development site in the suburb – 217 and 221-223 Separation St, spreading 1.78 hectares, cost $27m in 2015.

Lucent is based in Brunswick East, where it has completed three projects.

It is behind residential complexes at Brighton, Carnegie and Prahran.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

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