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BTR Experts: 15-87 Gladstone Street, South Melbourne VIC

Gladstone

Price: $65,000,000
Client: CEL Australia
Purchaser: Greystar
Sale Date: December 2020
Land Area: 9,667 sqm

Permit:
Permit approved for a large scale, 3 tower project that includes 730 apartment and a total NSA of 48,772 sqm.

Sale Process:
Off-Market Private Sale
 
Outcome:
After a number of attempts to purchase, Colliers introduced Greystar to CEL when it was announced that Greystar had secured another billion dollar tranche of investment. Following this a sale was negotiated, provided the Vendor comfort that the financial capability of the Purchaser was confirmed.