Four Cheltenham sales kick off 2018 commercial property activity

08 February 2018

A Melbourne-based developer has snatched up four permit-approved Cheltenham properties for $6.5 million before they hit the market.

The 2,867sq m corner allotment, which encompasses 1-2 Moola Street and 4-6 Barker Street, has been billed for residential development, with 49 units proposed.

Savills Australia’s Julian Heatherich brokered the deal on behalf of a local investor, securing a land rate of $2,260 per sqm or $132,000 per unit.

Mr Heatherich said the sale was a positive sign of the year ahead.

“2018 has kicked off with a flurry of activity, with developers back in force looking for their next opportunity,” he said.

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Key Contacts

Julian Heatherich

Julian Heatherich

CBD and Metropolitan Sales

Savills Melbourne (150 Collins Street)

+61 (0) 3 8686 8076