Another Development Site Sells During COVID

Another development site sold for $3,628,888 in stage 4 lockdown with the combined sale of 246-250 Highbury Road, Mount Waverley. Gorman Commercial’s Jonathon McCormack and Stephen Gorman together with Bernard Corser of Corser Property Group sold the site with plans and permit for ten two storey townhouses with double car basement parking through an expressions of interest campaign this week. 168 enquiries were received during the campaign with 7 offers submitted to purchase. The site sold to a local builder. Jonathon McCormack commented, “Huge demand from developers was received during the campaign and due diligence was able to be conducted on the approved plans and permit without the properties needing to be inspected. $362,888 per townhouse site was achieved with the successful tender.”