Chinese pay $50m for Hawthorn East block

One of the largest inner city landbank/development sites with dual residential and commercial potential. 33-53 Camberwell Road, Hawthorn was an underutilised development site with three street frontages purchased for mixed use residential/retail development.

Melbourne Acquisitions was approached by the purchaser to identify a major inner-east site. Introduction of the requirement to the vendor resulted in a private off-market negotiation and transaction of $44m. We previously sold this site for $26m, 12 months earlier.