Six parties sell Brighton block to developer
![](https://www.realestatesource.com.au/wp-content/uploads/2022/04/50_54-Black-2.jpg)
Six villa unit owners across two complexes in Brighton have united to sell their amalgamated holdings to a developer, which is planning a three level townhouse complex.
![](https://www.realestatesource.com.au/wp-content/uploads/2022/04/52-BLack-Brighton-mont-1024x650.jpg)
The 1750 square metre L-shaped site, comprising 50 and 54 Black Street, is costing the development strategy and sales group $10.6 million.
A c$48m project is planned with eight dwellings over a basement (this is a different scheme to the one marketed with the site – for 20 apartments).
Rooftop pools for each townhouse also forms part of the design.
Tomassi & Co’s Alby Tomassi and Morris Britton brokered the sale.
Black Street fills up
The proposed townhouse project would wrap around PB&CO’s ultra-high end Fifty Two Black Street, with optional Ralph Lauren Home interiors, which is under construction and set to rise three floors as well (story continues below).
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It is also close to Fortis’ Pillar & Tide, with 16 units, again in a triple storey complex, earmarked for a 2192 sqm block covering 41A Black St and 10-12 Male.
The 50 and 54 Black St deal comes a year since we reported 11 parties united to sell a low rise commercial holding at 177 Toorak Road, South Yarra, to Oreana Property Group which, with the neighbouring site. is intending a major hospitality project expected to contain at least one skyscraper.
In 2019, 21 studio owners within a three level complex at 14 Alma Rd, St Kilda, sold out to a developer for more than $11m – or about $530,000 each, double each apartment’s market value.
On 1030 sqm, that parcel was marketed for its potential to make way for a 14-plus storey tower.
Also three years ago, and in a deal with metrics much like Black St, eight villa unit owners in central Box Hill united to sell their 2061 sqm holding to a developer for $14.1m, pricing each of the modest dwellings at $1.76m.
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