Eaglemont site fetches $12.82 million from developer

A local developer paid $12.82 million for 25-31 Banksia Street Eaglemont, situated at the busy south-west corner of Banksia Street and Lower Heidelberg Road, opposite a Woolworths supermarket.

The 5,034sqm L-shaped parcel is actually six neighbouring residential homes, offered by four ownership groups – which banded to make their offering more attractive to a large-scale builder. The strategy worked with the incoming owner expected to replace the amalgamation with a major mixed-use village comprising apartments, retail and a childcare centre.

Following two unsuccessful campaigns by other agencies, Melbourne Acquisitions was able to achieve a result in under 5 weeks. The private sale had 22 enquiries and 5 offers.