Tower site a little flat

PERTH group Delstrat, hoping to get $6.5 million for a Southport tower site, appears to have fallen well short.

There’s a contract on the Queens St site that’s apparently closer to $4 million, or around $65,000 land content for each of the 67 units in a 14-level Burling Brown-designed tower approved for the property.

Delstrat’s unlikely to be grimacing too badly over the price – the two-title 1593sqm site was bought for a total of $1.35 million 14 years ago.