A rare vacant development site with a planning permit on the Princes Highway at Clayton has sold to a private developer for $3.625 million.
The 2161-2181 Princes Highway site included a permit for an 8059 square metre commercial/industrial project comprising four showroom/display units facing Princes Highway, eight warehouse units facing Garden Road and space for 171 cars.
The site is zoned business. Colliers International selling agent Lynton Williams says the sale presents a rare opportunity to purchase a vacant development site with massive frontage to the Princes Highway.
He says the dual street frontage and versatile zoning suggested the property would be well suited to a range of commercial/industrial developments, including corporate headquarters, as well as that proposed under the existing permit.
“Buyer was able to purchase the site secure in the knowledge that current demand from owner-occupiers and investors was very strong.”
