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|
“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: