CARLTON SITE OVERSHOOTS RESERVE BY $4 MILLION
Posted on 01 April 2015
A Carlton development site has overshot its reserve price by $4 million as competition in Melbourne's heated property market intensifies.
Vinci Carbone agent Frank Vinci said the single-storey brick building at 4-12 Leicester Place attracted six bidders and two fought it out in final $100,000 bids.
The property with significant development upside - the potential to build up to 40 metres tall sold for $9.1 million.
Carlton's proximity to Melbourne and RMIT Universities was a significant driver, he said.
Vinci Carbone agent Frank Vinci said the single-storey brick building at 4-12 Leicester Place attracted six bidders and two fought it out in final $100,000 bids.
The property with significant development upside - the potential to build up to 40 metres tall sold for $9.1 million.
Carlton's proximity to Melbourne and RMIT Universities was a significant driver, he said.