Over 200 enquires for this South Yarra four-level permit approved development site sold to local developer by Stonebridge Property Group’s Julian White and Chao Zhang.
A substantial four-level permit approved development site at 1-17 Adams Street, South Yarra has sold.
The 774 sqm corner landholding, with General Residential Zone, has a permit approval for a four-level project comprising seven luxury apartments in the prestigious apartment market of South Yarra.
Stonebridge Property Group’s Julian White and Chao Zhang handled the sale, which was acquired by a local developer for $8,000,000, reflecting a unit rate of more than $1,100,000 and NSA rate over $5,100/sqm.
This marks the 14th development site sale that Stonebridge’s dedicated development site team has transacted so far in 2023.
The expressions of interest campaign drew widespread enquiry from over 200 groups, highlighting the appetite of the market to acquire permit approved sites for residential developments in quality locations.
Stonebridge National Partner, Julian White, commented on this saying “We are witnessing a shift in the market at present, where developers are starting to take a more aggressive view on where the residential market will be in the next 6, 12 and 18 months. This is driving greater market engagement, especially on sites in quality suburban locations.” *Approximately
To request a copy of the Information Memorandum please contact one of the marketing agents Stonebridge Property Group’s Julian White and Chao Zhang via the contact details below.
South Yarra permit approval residential development sold at $1.1m unit rate - Stonebridge Property Group