Westwater Property Development Sites Sell

The biggest property is a 9000 square metre cleared block of land at 452 – 462 Victoria Street Brunswick, near the corner of Pearson Street overlooking the Reaburn Reserve to the north, and Clifton Park to the east.

Westwater obtained three separate planning approvals for the site, all of which are still active. The first permit, obtained in November 2005, allows for the development of 55 townhouses, six offices and a restaurant. The second permit, obtained in October 2006, allows for 95 apartments and 12 townhouses, and the third permit, obtained in February this year, allows for 149 apartments. Knight Frank selling agent Michael Hede says he expects the site to fetch more than $7 million.

The second Westwater site to be sold is a 7423 square metre vacant block of land in Blackburn. The property has an 81 metre frontage to Whitehorse Road, and a 55 metre frontage Middleborough Road. The property is zoned Residential 1, but will not be sold with a permit. It is expected to sell for around $3.5 million.

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Marc Pallisco

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