A Bayswater development site located at 705 Mountain Highway, has been sold by Stonebridge Property Group.
The property, a 1,398 sqm landholding, sold for $3,880,000 with a short settlement of 90 days. The sale price equated to $2,775/sqm on the land area. The property was improved with an old hardware shop, currently leasing on a month to month basis.
Chao Zhang, who sold the property with Julian White said “We received excellent market engagement, with six offers, and the highest four all Asian based groups. The demand from the Asian buying market for properties in the eastern suburbs of Melbourne is very strong at present.”
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