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BTR Experts: 35-41 Claremont Street, South Yarra VIC

Claremont Street

Price: $26,000,000
Client: LK Property Group
Purchaser: Greystar
Sale Date: December 2019
Land Area: 1,468 sqm

Permit:
Permit approved for a 26 level proposal. The property included both hotel and residential uses with a total NSA of approximately 14,000sqm.

Sale Process:
Off-Market Private Sale. Colliers were exclusively appointed to undertake an off-market process to target alternate use buyers, identified as student accommodation and BTR developers. Colliers presented compelling offers to the vendor, from targeted sectors.

Outcome:
The property was sold to international BTR player Greystar, being their first Australian acquisition and signalling their formal entry to the national Build-to-rent market.