The on-market expressions of interest campaign was managed by Andrew Milligan, Lucas Duffy and Chao Zhang.
The 1,288 sqm* dual-fronted landholding has frontage to both McCracken Street and Epsom Road.
Improvements include a church hall, a double-storey brick building and ancillary storage, and was offered with the flexibility to develop (STCA), reposition, occupy or invest.
Andrew Milligan, Director at Stonebridge Property Group said: “This result underscores the depth of demand for well-located landholdings of scale across Melbourne’s inner west. Leveraging our team’s experience in the sector, we were able to generate strong interest from a diverse buyer pool including owner-occupiers, investors, childcare operators and residential developers”
Lucas Duffy, Sales Executive added: “While the property was ultimately acquired by a local church group, the campaign attracted significant interest from developers seeking to retrofit the existing improvements for a residential outcome, with most developers keenly looking for opportunities as they prepare for the next market upswing in Melbourne driven by increased investor demand for new product with the recent negative gearing changes.”
The campaign generated over 85 enquiries and resulted in a competitive process, culminating in the property being sold to a local owner-occupier for $2.8 million 76 McCracken Street, Kensington was sold via an Expressions of Interest campaign.
For more information, please contact:
Andrew Milligan | 0421 559 992 | [email protected]
Lucas Duffy | 0417 596 560 | [email protected]
Chao Zhang | 0411 625 068 | [email protected]
