Camberwell residential development site sale

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.

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