Solomon Lew is selling a prominent CBD development site held since the early 1980s.
The businessman Lew can expect c$25 million from the 4340 square metre parcel covering: 151 – 165 Franklin Street and 118 – 134 A’Beckett St.
Presently an open-air car park, the land could make way for several high rise towers.
It is between Queen and Elizabeth streets, at the top tip of the city – an area of the seeing major high density building.
In the area, former parts of the Abaris Printers collection of buildings along A’Beckett Street are being replaced with residential complexes.
The former City Mazda site, Stork Hotel and former Carlton & United Brewery site in Carlton are others.
Both ex-Ansett and Qantas office headquarters sold recently to to apartment builders.
The state government is planning a social housing project at the Drill Hall building, on the corner of Victoria and Therry streets, and – closer to the Haymarket roundabout – at 660 Elizabeth St.
Savills Clinton Baxter is representing Mr Lew.