Vasey RSL To Sell Hawthorn Hostel For $7 Million

Given the character of the street with big blocks, established gardens and historic homes, the Residential 1 zoned site with an approximate 25 metre frontage is expected to attract interest from builders, who could market any luxury apartment conversion to retiring baby boomers wanting to downsize from larger homes in the area.

Targeting this group, not far away at the Cirrus project at #6, two and three bedroom penthouse apartments are priced at $900,000. Entry level one bedroom flats in that project were priced from $450,000.

The outgoing Vasey RSL Hawthorn is being marketed by Kliger Wood’s Nick Breheney and Eugene Wood.

Earlier this month the RSL listed for sale its prominent Beaumaris clubhouse, ahead of a move to a new facility in Highett. That 1.1 hectare development site, with frontage to exclusive Bolton Street, is expected to sell for about $7 million.

Several former RSL branches especially around the inner-city have been sold in recent years.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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