A prime corner development site in Altona is being sold by an expression of interest campaign amid a flurry of building activity in the area.
Kelemen Commercial says there has been strong interest in the 1000 square metre block at 21-23 Sargood Street, on the south-west corner with Blyth Street.
Head of special projects Jean Low said the site, currently leased to a car wash business, was ideal for residential development.
“We believe that this corner block site with $96,000 annual income has a lot of potential,” she said.
“This site would be perfect for a small apartment development with retail – restaurant, cafe – on the ground.”
The asking price is $3million with tenders closing on September 4.
Kelemen recently sold Altona development sites at 108 Pier Street (for $2.05million) and 102-106 Pier Street (for an undisclosed price).
Metropol Planning Solutions last month obtained planning approval for a five-storey, 19-dwelling apartment block at 108 Pier Street.
The adjoining site at 102-106 Pier Street, previously a petrol station, was bulldozed last week. Plans for that site have not yet been revealed.
Property fund manager Folkestone is building the Woolworths-anchored retail centre on the old Bunnings site in Millers Road, to be completed in the 2020 financial year.
A 25-dwelling, four-storey apartment block is being built on the site of the old Boccelli restaurant at 118 Pier Street.