A private developer has acquired a key landholding in the heart of Mawson Lakes’ business core for $1,200,000 following a competitive campaign.
CBRE’s Harry Einarson and Mitch Curnow negotiated the sale of the 1,727sqm site, located at 18-24 Light Common.
The existing holding, which was listed by a local investor, is situated in a mixed use zone with the potential for either commercial or medium to high density residential development.
Mr Einarson said developers recognised Mawson Lakes as a long term growth area and had been quick to snap up opportunities.
“The sale is another reflection of how competitive the current development market is in the area. We managed to sell the property within 10 days of going to market, after fielding enquiries from 18 individual parties,” Mr Einarson said.
“Residential development sites either on main roads or in close proximity to public transport are seeing the highest level of competition. In recent months, we have seen several key sites being sold off market.”
The site benefits from three street frontage including 34 metres to Main Street and is in close proximity to a range of amenities and high frequency public transport corridor.
CBRE’s Harry Einarson and Mitch Curnow negotiated the sale of the 1,727sqm site, located at 18-24 Light Common.
The existing holding, which was listed by a local investor, is situated in a mixed use zone with the potential for either commercial or medium to high density residential development.
Mr Einarson said developers recognised Mawson Lakes as a long term growth area and had been quick to snap up opportunities.
“The sale is another reflection of how competitive the current development market is in the area. We managed to sell the property within 10 days of going to market, after fielding enquiries from 18 individual parties,” Mr Einarson said.
“Residential development sites either on main roads or in close proximity to public transport are seeing the highest level of competition. In recent months, we have seen several key sites being sold off market.”
The site benefits from three street frontage including 34 metres to Main Street and is in close proximity to a range of amenities and high frequency public transport corridor.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.