Stonebridge Property Group have successfully transacted 65 Boronia Road, Boronia, under the hammer for $2,750,000 to a childcare operator who outbid developers.
The transaction was handled by Stonebridge agents Chao Zhang and Max Warren who sold the land only hours prior to Melbourne’s 5th COVID-19 lockdown.
The property was a Commercial 1 Zoned site located just east of the main retail strip along Boronia Road, with a 3-level height potential at time of sale.
Stonebridge faced challenges during the campaign including a 3–4-degree slope falling towards Dorset Road and a major council nature strip setback from the Boronia Road, but the team took a pro-active approach to target alternate use buyers including childcare, medical and potential mixed-use developers to widen the enquiry pool and source aggressive buyers.
Ultimately, a local childcare operator secured the site under the auction conditions outbidding two Asian developers who were sourced through the Stonebridge Asia Practice team.
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