Residential Developer Buys Camberwell Site Until Recently Earmarked to Become Offices

A PROMINENT Camberwell development site opposite the suburb’s Town Hall and until recently earmarked to become a $50 million office building, has sold for $7.7 million to residential developer, Trenerry Property Group.

The site at 347 Camberwell Road, north-west of the busy Camberwell Junction, sold with a permit for a four-level, 8277 square metre office.

However given the recent success apartment projects in the area recently, including Aerial at the Camberwell Junction, the vendor, local developer CGA Bryson, was pursuing another permit for a residential based project with just 1000 square metres of office space, and 112 flats.

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CGA Bryson to Sell Camberwell Development Site

LOCAL developer CGA Bryson is selling a prominent Camberwell development site it bought just 15 months ago.

Opposite the City of Boroondara council offices, and the Camberwell Civic Centre, the 4383 square metre site at 347 Camberwell Road (aerial shot of site, pictured, right) is being offered with a permit to develop an 8277 square metre office building. Commercial office rents in Camberwell are amongst the most expensive in suburban Melbourne, achieving more than $300 per square metre, per annum in some cases.

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