Sold off market, this incredible development opportunity was brokered by Victoria's own Sean Cussell, and sold for a record $26 million.
At 2500sq m in size, the sales price amounts to a jaw-dropping $10,400 per square metre.
The Bruce St and Williams Rd corner site was owned by businessman and developer Larry Kestelman, who co-founded internet company Dodo and is the National Basketball League (Australia)'s owner.The off-market sale had set a new record for a Toorak permitted development site.
Stonnington Council approved a $100m plan to build a “luxury boutique apartments” complex on the site. There will be 21 apartments with an average sale price over $5m each with construction due to commence next year and be completed in 2025.
The apartments will be designed by world-famous architecture firm Fender Katsalidis, known for Southbank's $297.3m Eureka Tower skyscraper and St Kilda's Saint Moritz Beachfront Residences.
The project will be known as Como Gardens and is a collaboration between JCL Prime and Henny.
