Premium Permit-Approved Development Site

67-69 Palmerston Crescent, South Melbourne is a premium city-fringe landholding of 592sqm, complete with permit for a luxury 10-level residential project.

After being on the market for over 5 months with a tier one agency listed at $6,800,000, Melbourne Acquisitions was able to achieve a sale price of $8,550,000, $2 million above reserve in an auction contested by an offshore group (who flew in specifically for the auction), local developers/builders and Australian based offshore developers, with the eventual purchaser being an interstate buyer.