A slow auction between 2 buyers showing much restraint bidding at auction.
Both buyers are looking for a block suitable for developing, so understandably both were unwilling to bid to market price. Given the cost of construction in Melbourne, one cannot overpay for the land as margins in building are slim enough as it is. This was a great block for development with decent size land, a flat block with no large trees and options to renovate the front and add a unit at the back or knockdown and rebuild multiple townhouses (STCA).
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17 сен 2024
