4 Adjoining Victorian Terraces Sold to Local Developer

Tom Maule and Stephen Gorman of Gorman Commercial negotiated the sale of 4 neighbouring Victorian terraces at 1-7 Council Street, Hawthorn East to a local developer via an expressions of interest campaign. “Strong interest was received from developers looking to redevelop the whole site and from investors attracted to the excellent location,” mentioned Tom Maule. The whole site sold for $3,120,000 on a 2.66% yield and land rate of $7,324 psm. Multiple offers were received.