Campaign attracted significant interest
from developers and commercial investors
Demand for well-priced, high quality infill assets remains strong following the sale of a premium development site for $5 million in the heart of Brunswick by RPM’s Transactions & Advisory team.
Permit-approved for 61 apartments over 7 storeys and designed by Rothelowman architects, the 1,170 sqm site on Sydney Road currently trades as Northside Harley-Davidson with a passing income of $270,000 +GST. Featuring 37m frontage plus rear laneway access, it is one of the largest remaining properties along the coveted locale.
Head of RPM Transaction & Advisory Christian Ranieri said the campaign attracted significant interest from developers and commercial investors, generating more than 150 enquiries and 8 written offers.
“The site features an existing commercial tenancy but is approved for residential. This mixed use asset appealed to multiple parties seeking a good quality yield and future upside,” he said.