Westpoint Receivers, Mattioli Sell CBD Development Sites

Receiver and manager Deloitte this week gave the green light to sell a 525 square metre Flinders Lane development site, once part of the failed developer’s 60 Market Street project in the CBD. The property – which has undercover car parking for 30 cars, is expected to reap upwards of $3.3 million. CB Richard Ellis manager Simon Dal Zotto is marketing the property with Jeremy Gruzewski. He said the property could suit either a residential or office development.

Meanwhile across town, the far more successful Mattioli group is offloading a development site it never used in Little Lonsdale Street near Australia Post House. Currently a disused garage and workshop the site comes with a permit for a 30 storey apartment tower.

If, as agents recently speculated, the CBD residential market is back in shallow waters – then the property should fetch far more than the $5 million Frank Vinci of Vinci Partners is expecting the property to sell for.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.