Going, Going...Gone

Market Insights
9 years ago
1 minute

Colliers International has only just recently sold one of Melbourne's most lucrative and attractive development sites.

Located in West Melbourne on the corner of Dudley St and Spencer St, the development site sold for $29m AUD.

Sold by Colliers' Matt Stag and Daniel Wolman, Bill McNee's Vicland Corporation, renowned for the Hub in Richmond and Habitat in Southbank, was the succesful buyer. 

The building is a recognised by the Natioanl Trust but a partial demolition is seemingly all that is approved. The 38-level permit was given by then Planning Minister Matthew Guy in February of 2014.

The site was sure to attract both local and off shore developers, but it was Vicland who scored the prize.

More developments will surely follow.