“The lot at Beattie Street is large, adaptable and offers significant potential, with flexible planning controls in an affluent and much-loved part of Sydney’s inner-west,” Mr Fenn said.
“This sort of development opportunity is rare, especially in Balmain, which is a highly-sought-after and tightly-held suburb.
“That resulted in high demand and a competitive auction, in line with the extremely strong interest we continue to see in development sites in prominent Sydney locations.”
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.