News

Aged-Care Developer Snaps Up Five-House Block in Sydney $21 Million

By Katerina Stavrou

Good news for our St Ives office: we just got a feature in Domain Media’s CommercialRealEstate.com.au for an amazing $21 Million sale!

An amalgamated site in St Ives on Sydney’s upper north shore has sold for more than $21 million – a record price for residential development sites in the suburb.

The five properties at the corner of Killeaton Street and Mona Vale Road form an 8230-square-metre site, which sold off-market for $2,555 a square metre.

The five house owners are pocketing an average of $4.2 million each, though one would fetch more as it occupies two land titles, sales agent Moss Akbarian from Ray White St Ives said.

That is double the $2.1 million median house price in St Ives, according to Domain Group data.

“The vendors are elated,” he said, adding that none of the property owners were looking to sell before he approached them.

For the full article, click the link below:

https://www.commercialrealestate.com.au/news/aged-care-developer-snaps-up-five-house-block-in-sydney-for-21-million/

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