Nillumbik council sells townhouse block
Nillumbik Shire Council is banking $4.62 million for a townhouse development site next to Diamond Valley Library.
The 4773 square metre Greensborough block at 1-14 Whittingham Circuit is divided by Brancepeth Lane.
It was offered permit-ready for 14 double-storey dwellings on relatively large parcels – between 266-493 sqm.
Eleven offers were received following the close of an expressions of interest campaign on May 7; it was marked sold seven days later.
The buyer is a local developer.
The price equates to a unit rate of $330,000 (story continues below).
It is also 32 per cent over expectation, according to Savills’ Nick Peden, Mark Stafford and Jesse Radisich.
The vendor has offices two holdings away.
The land is also near Diamond Valley Sports and Fitness Centre.
Its southern boundary abuts the Greensborough Bypass.
The suburb is 17 kilometres north east of Melbourne.
