MANNINGHAM City Council will bank almost $9 million from the sale of a 3113 square metre development site opposite Doncaster Shoppingtown (aerial shot, right).
The 101 – 105 Tram Road site, on the south-east corner of Doncaster Road, has been purchased by an Australian based company whose principals have substantial development experience in Hong Kong and China.
The new owner plans to build luxury apartments on the Doncaster site, capitalising on CBD views availed by its elevated position.
Next door, at 95 – 99 Tram Road, affordable housing service provider Haven is building a 10-level, 98-unit complex. Haven paid $2.86 million for that site in 2009.Read more