Bluebird Property Partners have amalgamated a prime apartment site on Moray Street and coordinated the sale with agents, YPM Group, to a local developer. The purchase price has set a record for new apartment sites in New Farm.
Bluebird approached the six unit-owners, who were quick to realise that their apartments would be worth more if they sold as a development site, rather than separately.
It’s been a difficult time for apartment investors, but by working together and selling in one line, these owners achieved a price that was nearly 50% above what they would have achieved by selling individually.
The purchase price has also set a record for new development sites and equates to a land value of $520,000 per new lot. Prior to this the previous record was held by 30-32 Griffiths St, New Farm, which was sold based on $403,000 per new lot.
We are honoured to have been able to work with these landowners and provide the right development advice to ensure the value of their property investment was maximised.
If you need help with your land, Bluebird Property Partners is a property advisory and development management consultancy that offers a personalised service for all types of residential projects – from townhouses to high-rise apartment buildings and subdivisions.
We can leverage our development expertise and strong networks within the industry to make sure you’ve got access to the best people and receive the best service. Please get in touch today:
M: 0420 377 025