Riddells Creek townhouse development site sold for $190 a sqm after strong interest

Riddells Creek townhouse development site sold for $190 a sqm after strong interest
Staff reporterDecember 7, 2020

A residential development site suited to a townhouse development at Riddells Creek has been sold.

Gray Johnson agent Rory White says that the campaign for 138 Main Road attracted over 40 enquiries for the property with a sale negotiated with a local builder-developer at $190 a square metre for the site of 2,206 sqm, or $420,000.

“The property with a frontage of 31 metres to Main Road holds a General Residential Zone 1 rating under the local planning scheme.

“It was offered along with a conceptual development plan for a potential townhouse development prepared by V-Arc Architects subject to planning approval.

“The purchaser is a local developer who has recently completed several townhouse developments in the local area” Mr White says.

Riddells Creek, 50 kms north-west of the City in the foothills of the Macedon Ranges, is a regional growth area with semi-rural charm and a growing local population.

 

Editor's Picks

First look exclusive: Winx breeder John Camilleri continues Gold Coast apartment development site spree
Parkhill Melbourne wins major Housing Industry Association award for 2024
Dusk Group sets sights on Caloundra new apartment market
Box Hill's best new apartment development approaches completion
"We will reward the buildings that are designed the best" VIC Gov to speed up approvals for best designed apartment developments