OFFSHORE BUYER SWOOPS ON WEST MELB SITE
Posted on 29 May 2013
AN Asia-based buyers has snapped up a high profile showroom and warehouse property at Spencer St West Melbourne for $4.1 million in sale by Vinci Carbone.
Director Joseph Carbone sold the property at 617-643 Spencer St, which comprises a showroom and warehouse of 2,575 sqm and has over 60 metres frontage to Spencer St.
The property was sold with vacant possession after an expressions of interest campaign which drew interest from various sectors.
Carbone said the buyer was based in Asia and intends to redevelop the mixed use zoned property into medium density residential housing and capitalising on its proximity to the recent state government announced E-Gate redevelopment, which will be Melbourne’s newest suburb.
“This result is testament to the strength and depth of the offshore market and in particular the strong demand for premium city fringe development sites,” Carbone said.