Seddon Development Site Picked Up For Record Price

A landmark island site in Seddon has been sold to a developer for $20.9 million in what is believed to be the biggest single property transaction in the suburb's history.

Colliers International’s Trent Hobart, Bryson Cameron and Tom Noonan have negotiated the sale of a 14,410sqm site at 43-57 Buckley Street in Seddon (‘The Proximity Site’) on behalf of a transport consortium.

The significant island in Melbourne’s booming inner west has a scheme in place for a $200 million-plus mixed use development.

“We believe this to be the biggest single property transaction in Seddon’s history,” Mr Hobart said. “The property was hotly contested, with more than 145 enquiries generated throughout the campaign and nine genuine offers from a mix of local and offshore buyers.”

The property is currently being leased by Transdev who will be vacating the site on or before July 31, 2016.

“The Proximity Site represented an undeniable mixed use development opportunity considered by many to be located in the heart of one of the fastest growing and re-gentrifiying locations in Melbourne,” Mr Cameron said. “Located opposite Victoria University, within walking distance of two train stations and only 5km from the CBD, this site has the hallmarks for a successful future development.”