Armadale apartment development site sells for $7.25 million
A development site which is permit ready for a luxury residential development has been sold in Armadale for $7.25 million.
It was listed with expectations around $6 million.
The property was sold with a planning permit for a Ewert Leaf designed, four level luxury residential project, comprising 14 residences including eight x three bedroom apartments and six x two bedroom apartments.
Teska Carson, in conjunction with Kay & Burton, marketed the High Street site a a "blue-chip development" opportunity.
The 872-874 High Street property comprises two single level residential buildings on separate, Residential Growth Zone, titles.
Key objectives of the Residential Growth Zone include the provision of housing at increased densities in buildings up to and including four storeys.
It has a combined 1126 square metres with 21.3 metres frontage and secondary access via a laneway off Denbigh Road.
The properties are currently being utilised as a cosmetic surgery day clinic.
