Northcote Development Site Sells During COVID-19 Pandemic

GrayJohnson has recently sold 43-47 Simpson Street, Northcote via EOI for $3,321,000.

This represents a land rate of $4,240 psm.

The campaign generated unprecedented inquiry (145 direct inquiries) and 12 bids.

The property was sold 24 hours after the EOI close to an established residential developer.

Whilst we are in an unpredictable environment, we have experienced strong demand for development sites with low density permits and medium-sized city fringe assets suitable for owner-occupiers. More particularly in the $3.0 – $15 million price bracket.

If you would like to know more about this transaction or how we can assist you with your current commercial assets, please call Matt Hoath on 0418 543 714 or Rory White on 0439 655 504.

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