Camberwell residential development site sale
Staff reporterMarch 26, 2017
There was competitive bidding at a mortgagee auction in Camberwell of a residential development site.
Nine would-be buyers fought for two partially-built townhouses at 23 Acheron Avenue.
They pushed the sale price more than $750,000 over reserve.
The 975-square-metre block with existing plans and potential to redevelop sold for $3,451,000.
The buyers will also have to pay GST because of the nature of the sale.
Auctioneer Bernard Corser, of Corser Property, declared it on the market at $2.7 million.
Jellis Craig’s Mark Pezzin, who sold the property in conjunction with Corser Property, said the strong result came as here was a lack of quality stock.
