The sale price for the 1,878sq m site at 3-5 Lynn Avenue, reflected a $205,000 per unit rate, and at the close of the Expressions of Interest, over 11 Contracts were put forward by various groups, and over $20,000,000 worth of offers presented.

The deal was negotiated by Nick Lower, Selin Ince and Oliver Ridley of Savills Insolvency & Turnaround Services who said this sale was one of the most competitive campaigns we have had to date.

“The property in the hands of Aquamore Receivers was incredibly well received by the market, as the demand for DA approved sites in exclusive locations continues to grow, mainly driven by developers looking to fill their pipeline,” said Mr Lower.