Camberwell townhouse site sells under the hammer

2 Fordham Avenue, Camberwell

A Neighbourhood Residential Zone vacant land parcel at 2 Fordham Avenue, Camberwell, has been sold for $3.91 million at a highly competitive auction.

The sale process was managed by Stonebridge Property Group development site sales agents Julian White and Chao Zhang.

Occupying a 1,063sqm landholding in the inner eastern suburb of Camberwell, strong interest was received for the property with 187 enquiries generated over the sales and marketing campaign, with six parties registering to bid.

Bidding opened at $3.2 million, with strong and consistent bidding received throughout with the property selling more than $200,000 over reserve. The price represents a very strong $3,682/sqm land rate for a Neighbourhood Residential Zone allotment. The buyer was a local builder developer.

This sale continues Stonebridge’s market dominance in the sale of sites suitable for townhouse development in Melbourne’s eastern suburbs, selling nine comparable sites since 25th June 2021. A summary of these sales are below:

Address Price Date of Sale
6 Malcolm Crescent, Doncaster $3,625,000 25 June 2021
79-81 King Street, Templestowe $4,175,000 25 June 2021
27 Box Hill Crescent, Mont Albert $1,700,000 25 June 2021
25-35 Park Road, Donvale $11,000,000 7 July 2021
65 Boronia Road, Boronia $2,750,000 18 July 2021
348 Porter Street, Templestowe $2,700,000 16 August 2021
1-5 Hawtin Steet, Templestowe $4,505,000 21 October 2021
55-57 High Street Road, Ashburton $6,400,000 11 November 2021
2 Fordham Avenue, Camberwell $3,910,000 17 November 2021
Total $40,765,000

Strong median house prices are driving demand for quality townhouse product in good quality suburbs. Many of the buyers of these townhouses are down sizers, who are taking the opportunity to sell the family home at a strong price. This is driving demand from developers and builders to acquire these sites.” – Stonebridge Partner, Julian White.

For further information please contact:

Julian White  |  0422 764 137  |
Chao Zhang  |  0411 625 068  |

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