Molti acquires two Melbourne lux apartment sites
Bryon Bay developer Molti has picked up two Melbourne blue ribbon suburb apartment sites – its first properties in the city.
In Armadale, the group is paying a speculated $12.2 million for four villa units covering 1717 square metres at 32 Mercer Road, opposite Lauriston Girls School.
Meanwhile only a couple of hundred metres away, the builder is buying two older style blocks of flats at 11 and 13 Denham Place, Toorak (outlined, image, top) – a 1665 sqm amalgamation – following a speculated $13m-plus deal.
Both properties are earmarked for luxury units.
“This marks the beginning of an exciting journey as we expand into new markets, seeking sites that meet our exacting standards, enabling us to continue to deliver architectural and design excellence,” the developer said.
“We believe Melbourne offers great opportunities and we’ve been looking down south for quite some time,” it added (story continues below).
Marshall White was the agency.
The deals come three weeks since Molti was approved to replace the triple storey Riverglade block of flats in Brisbane’s exclusive Kangaroo Point with a six level apartment complex.
The builder bought that block in late 2023, settling mid-last year.
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