RED HOT DEMAND FOR CARLTON PROPERTY
Posted on 01 April 2015
PRIME development site at Carlton in Melbourne's city fringe has sold at auction for $9.1 million - $4 million above the reserve price.
The 709 sqm at 4-12 Leicester Place Carlton was sold for the first time in 40 years by agents Vinci Carbone's Joseph Carbone and Frank Vinci.
They said the property drew a crowd of about 100 people on the day after receiving enquiries from almost 200 parties including both local and overseas developers who were attracted to the property's very unique position, located almost on Melbourne University’s campus.
The property was hotly contested for by six bidders with two bidders fighting out the final million in $100,000 bids.
The site is located within the City Of Melbourne proposed C196 Amendment Area which could see the height limit for the property increased to 40 metres.
Vinci Carbone also auctioned a property late last year just around the corner from Leicester Place at 21 Bouverie St Carlton, which also overshot the reserve by several millions of dollars, selling at $11.40 million.
The 709 sqm at 4-12 Leicester Place Carlton was sold for the first time in 40 years by agents Vinci Carbone's Joseph Carbone and Frank Vinci.
They said the property drew a crowd of about 100 people on the day after receiving enquiries from almost 200 parties including both local and overseas developers who were attracted to the property's very unique position, located almost on Melbourne University’s campus.
The property was hotly contested for by six bidders with two bidders fighting out the final million in $100,000 bids.
The site is located within the City Of Melbourne proposed C196 Amendment Area which could see the height limit for the property increased to 40 metres.
Vinci Carbone also auctioned a property late last year just around the corner from Leicester Place at 21 Bouverie St Carlton, which also overshot the reserve by several millions of dollars, selling at $11.40 million.