Mr Mosca noted that the international marketing campaign appealed to a mix of local and offshore investors who were attracted to the location and the strong local demand for high end luxury product.
“To receive over 200 enquiries and have such a variety of interest in this property was a very encouraging sign for the development market,” Mr Mosca added.
Leon Ma, of CBRE’s Asian Services Desk, said the internationalisation of the development market was now very clear.
“The level of interest our Asian Services team handled for this campaign is a reflection of the increased demand for well-located and designed development opportunities,” Mr Ma said.
The transaction follows the recent sale of 114 Tennyson Street, Elwood, which sold last month for $2,700,000.
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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.