Major $50m-Plus Project Earmarked For St Kilda’s Vasiliki Lobster Crayfish Site

It’s believed the 1000 square metre development site sold to a local builder for about $7.5 million.

Beller Commercial’s Fred Nucara and Andrew Fawell marketed the property with Gross Waddell’s Jonathon McCormack and Michael Gross but all declined to comment on any part of the deal.

It was put to the market with a permit for a five level, 84-unit serviced apartment complex but it’s understood the new owner will submit new plans, for a traditional “own your own” residential development.

Elsewhere in the area, developer Arno is replacing Acland Street’s former Greasy Joe’s restaurant with a distinctive building designed to look like liquid gold called The Face.

Arno is also responsible for a controversial mixed-use redevelopment of the Camberwell station, to be called The Place.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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