First Time Sold in Over 30 Years

Gorman Commercial’s Dean Alexander and Jonathon McCormack auctioned 72-74 Northern Road, Heidelberg West, a landholding of 1,160 sqm on two separate titles (sold as one site) in front of a large crowd. The vendor had owned the land for over 30 years. The property was hotly contested with nine active bidders competing and was put on the market at $1,300,000, eventually selling to a local owner occupier for $1,910,000. Dean Alexander said, “The rare offering of Industrial 1 zoned land generated in excess of 100 enquiries and the ultimate outcome of $1,646 p/sqm is a bench mark rate for the area.”