Prahran development site sells for $20 million plus
An inner-city development site, at 70-88 Greville Street and 42 Charles Street in Prahran, has been sold.
The buyer, reportedly a local private developer, paid more than $20 million.
It is a 2,662 square metre site suitable for a mixed-use residential and retail project. It was the first time offered in 25 years.
For a time The Voluntary Euthanasia Society of Victoria had its office at 70 North Melbourne.
The site was listed by Mark Wizel and Jamus Campbell of CBRE City Sales.
More than $23 million has been paid for a full city block in Collingwood too.
The 2010 square metre island site, bounded by Wellington, Langridge, Cambridge and Derby streets, sits within Collingwood’s so-called golden pocket.
“Rewind several years and few people would have expected that land in Collingwood and Prahran would be achieving in excess of $10,000 per square metre,” Wizel said.
