The Block Albert Park warehouse price appreciation in history
The producers of the Block series, Watercress Productions has paid $5.85 million for the warehouse at 47 O'Grady Street, Albert Park.
It's a red brick warehouse sold by a company associated with Lloyd Williams, the Melbourne property developer.
Dux House (pictured above), a 1176 square metre office building was the subject of a VCAT application seeking it refitted as six large dwellings over four levels to an Allan Powell-architect design.
Property Observer has obtained its six previous sale prices.
It shows that the price appreciation over the past six years was 0.7% annually.
It previously sold in 2007 at $5.61 million, reflecting 28% annual growth over the prior two years.
At $3.2 million in 2005, reflecting 9% annual growth over the prior nine years.
At $1.49 million in 1997, reflecting 36% annual growth over the prior 12 years.
At $325,000 in 1985, reflecting 32% annual growth over the prior two years.
At $190,000 in 1983, reflecting 35% annual growth over the prior three years.
And at $66,250 in 1979.
