Solovey secures another Melbourne growth corridor site
Local developer Solovey has bought a Casey site permit-ready for a low density residential project.
The 2.92 hectare block, 4 Nelson Street, Cranbourne East (Google Street View image, top), cost $7.425 million following an off-market deal.
The master-plan allows for 52 dwellings.
Roads Fremantle Avenue, Fremantle and Redmond terrace and Hargood Place have also been established.
The property has previously, unsuccessfully, been for sale in 2011, twice, 2015, 2018, 2021 and last year; in those campaigns, the planning scheme was for 40 dwellings and two super-lots.
RPM Group – a different agency to those various ones – got the deal over the line. Zaynoun Melhem and Ed Wright were the brokers.
Solovey invests in growth corridor again
Toorak based Solovey – which takes responsibility for, amongst other things, planning, development, finance and marketing, is expected to launch a campaign for the Cranbourne East estate later this year (story continues below).
Established in 2012 by Sasha and Larissa Soloveychik, the group’s commercial track record includes Melbourne offices, retail, service stations and essential services, childcare complexes and medical centres.
It also completed a McDonald’s at Cranbourne and Moama, near Echuca and the Victorian border.
Its residential portfolio includes, at Officer, about 13 kilometres north east of Cranbourne East, in the Cardinia shire, a 75-lot project on Bayview Rd, with blocks between 156-544 sqm, and a smaller estate, Bayview, with 10 blocks.
The group also completed 33 townhouses at Frankston North in 2017.
Solovey also owns land for medium density developments at Greenvale, in the north and Deanside, west of Melbourne.
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