Water­front deal signed and sealed be­fore auc­tion

The Courier-Mail - Property - - Who’shome -

THE sale price of a water­front site at Kan­ga­roo Point has now been re­vealed.

The prop­erty at 108 Lambert St was to be taken to auc­tion in De­cem­ber, but a deal was stitched up be­fore it could go un­der the ham­mer.

It had served as the dis­play suite for the neigh­bour­ing Castle­bar Cove de­vel­op­ment and its for­mer own­ers, Sin­cere Prop­er­ties, gained de­vel­op­ment ap­proval for a tower or two homes on the site, but de­cided to sell.

At the time of the sale, mar­ket­ing agent Cathy Lam­mie, of Re/max Prop­erty Cen­tre could not re­veal the sale price as con­fi­den­tial­ity agree­ments sur­rounded the deal. But prop­erty records re­veal the deal has now set­tled for $3 mil­lion to a group called Lambert Prop­erty Group.

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