Salta Buys Residential Development Site in Congested Inner-City Precinct

Last month, Colliers international sold another former commercial site in the strip – the ARB 4 x 4 Accessories building at 609 Victoria Street – for $6.25 million to residential developer Salta, which is rumoured to  be planning a high density apartment complex.

The massive 1900 square metre site was owned by the Victorian Opportunity Fund, which obtained a planning approval for a seven level building before listing the site for sale. Sources speculate a much higher density project could be developed on the site, given the City of Yarra has defined the area as Priority Development Zone.

Developers Salvo Property Group and Hamton are proposing major complexes in Victoria Street nearby, recognised for the skipping girl Little Audrey (pictured).

 

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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