Residential Developer Pays $2.4 Million For Sorrento Development Site

WITH the apartment building development boom taking place outside of Melbourne too, it’s no surprise prime development sites in coastal retail centres are increasingly catching the attention of builders.

This time, in ritzy Sorrento on the Mornington Peninsula, a 922 square metre development site at 141 – 147 Ocean Beach Road has sold to make way for a $10 million apartment-based project.

The site is currently recognised as a single-level weatherboard dwelling and leased to a homeware shop and art gallery.

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