Doncaster site snapped up by offshore developer
An offshore developer has paid $7.2 million at a record land rate for a Doncaster development site.
The plans are for a retail and residential redevelopment.
It sold through Savills as total sales to off-shore buyers nears half a billion dollars in the last 12 months through Savills Victorian office alone.
According to selling agent, Nick Peden the price, at $4467 a square metre, represented a record land rate for Doncaster.
The sale campaign generated nearly 150 enquiries from a range of buyers including local and off-shore developers, investors and owner-occupiers.
"We were expecting $6 million plus."
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
