The property, at 19 – 21 A’Beckett Street, was sold by business identity Paul Mathis. According to CityScope, Mathis paid $1.95 million for the site in September last year.
Morry Schwartz confirmed the purchase when contacted by Capital Gain.
“Ironically we looked at the property when it was put to the market last year, but the market wasn’t as clear as it is now,” said Mr Schwarz. “I think the location, in the city fringe tertiary education precinct, is ideal for a residential development, and we are going through the planning process now.”
The site was one of several A’Beckett Street properties put to the market by Abaris Printing and Publishing, after it relocated its operations to Derrimut late last year.