Top site sells for $1.65m
A SYDNEY developer has paid $1.65 million for a Biggera Waters site approved for 30 units.
The 1502sq m property at 3 – 7 Hollywell Rd was sold by Arian Property Developers, linked to Alireza Irannezhad and Mehran Sadegh-Vaziri.
Arian purchased and amalgamated the two blocks for $1.055 million in 2008.
It was granted approval for a four-storey, 18-unit building, to be called Orange, that same year. The conditions were successfully altered in 2015 to increase the number of apartments to 30 and the building height to encompass a partial fifth storey.
Prestige Property Agents principal Amir Mian, who negotiated the deal for the property with colleague Jeff Sturgess, said the buyer was drawn to the location and the development approval.
“There are not many blocks of land for sale so close to Brisbane Rd,” he said.
“There are three shopping centres within walking distance so the location is ideal.”
The centres are Labrador Park Shopping Centre, Harbour Town Outlet Shopping Centre and Metro Market Biggera Waters, which is also on Hollywell Rd.
Metro Market sold in 2015 for $23.05 million.
The sale of 3 – 7 Hollywell Rd settled yesterday.