Ravida Group Sells Penthouse at 333 Wattletree Road Malvern Development

The developer says the result, achieved at a boardroom auction, defies speculation of a downtown. Four of the other apartments in the $14 million, eight-unit project, sold for an average price of $1.3 million.

Ravida Group managing director Don Ravida says “In a time when discussion is very much about the economic downturn and doom and gloom – this (penthouse) sale represents the fact that well placed inner city developments such as Wattletree Road are still very much hitting the mark”.

Bennison Mackinnon agents Mark Wridgway and Iain Carmichael are selling the remaining three apartments from $1.15 million to $1.19 million. The apartments include 2-bedrooms, a study, two bathrooms , security parking and lock up storage cages.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.