Land in Melbourne’s north hot on the investor eye

A development site has sold to a Chinese developer for $1.24 million as land in Melbourne’s north western suburbs continues to be in demand.

Savills Australia’s Benson Zhou, Julian Heatherich and Mark Stafford brokered the deal for 446 Buckley Street, Essendon West and said they received significant interest throughout the expressions of interest campaign.

“Demand for permitted townhouse sites are continuing to grow across Melbourne as the population continues to grow at a rapid rate,” Mr Zhou said.

The 809sq m site has an approved permit for four high townhouses and is located a short distance from St Bernard’s College.

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