Waterfront deal signed and sealed before auction
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.