Savills sells Hoddle Street development site to local

A local developer has paid $5.04 million to outbid a number of offshore groups for a potential development site with Hoddle Street frontage.

The deal on the vacant possession showroom was brokered by Savills agents Nick Peden and Jesse Radisich.

The corner 218-228 Hoddle Street property, with two street frontages, was a likely candidate for redevelopment, although the purchaser had not revealed any plans. 

Jesse Radisich said the 1161 square metre property included frontage of 30 metres to Hoddle Street and 38 metres to Stafford Street, with a Commercial 2 zoning allowing for office, some manufacturing uses, bulky goods and other retailing uses.

The property attracted over 100 enquiries.