Woolworths pays $21m for North Melbourne sites

Woolworths has paid $21 million for two neighbouring North Melbourne blocks.

The sites – 2-24 Vaughan Terrace (which spreads 3066 square metres) and 101-117 Canning St (5000 sqm) were offloaded by interests associated with Peter Stevens Motorcycles.

Woolworths recently applied to build a 13-level, 165-unit complex in Prahran.

It and Wesfarmers controlled Coles are active buyers and sellers.

More detail about the North Melbourne acquisition is in the AFR.

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Marc Pallisco

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