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Kay & Burton's Rollo Moore with Fletchers Queenscliff's James Gladman were the marketing agents.
A representative from the developer confirmed the speculated $5 million sale. It is expected the site will make way for a low-rise apartment complex, perhaps like the nearby Bentleigh Centre, which the builder completed in 2008.
Parkside Brighton East block snapped up by developer
In 2013, the builder – which recently relocated its headquarters to the CBD – spent nearly $9 million for the former Playspace warehouse near the corner of Sydney Road and Albert Street in Brunswick, north of town. Near the suburb's train station, this block of more than 3300 square metres is making way for a 14-level complex which upon completion will be Brunswick's tallest tower.
MAB Corporation executive and BRW Rich Lister Michael Buxton has added to his personal property portfolio, purchasing a South Melbourne office building with redevelopment potential.
Michael Buxton buys South Melbourne office
Last year it spent $18 million on a small shopping centre and an adjoining residential block, in Essendon, which is now the subject of a 10-level apartment building application.
The Lathamstowe mansion in Queenscliff has sold.
A grand Queenscliff property – built in 1883 by former Carlton & United Brewery owner Edward Latham as a gift to the Anglican Church for its clergy – has sold.