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7-12, 13 & 15 Horne Street, ELSTERNWICK

Gross Waddell have sold the Elsternwick Supersite located at 7-12, 13 & 15 Horne Street, Elsternwick via Public Auction today for a combined total of $12,660,000.

In front of some 200 people, the Daily Planet and adjoining properties were sold at public auction for a combined total of $12,660,000 which equates to $10,218/m² across the combined land area of 1,239m², with tremendous frontage to Horne Street of 44.5 metres. We believe this to be a record land rate for the Elsternwick vicinity.

The three properties were offered consecutively with the first auction being 7-12 Horne Street (The Daily Planet) offered under instructions from Ferrier Hodgson as liquidators.

  • Land Area: 829m²
  • Sale Price: $8,850,000
  • Land Rate: $10,675/m²

 

13 Horne Street (3 storey office building)

  • Land Area: 205m²
  • Sale Price: $1,905,000
  • Land Rate: $9,292/m²

 

15 Horne Street (single storey warehouse)

  • Land Area: 205m²
  • Sale Price: $1,905,000
  • Land Rate: $9,292/m²

 

Alex Ham from Gross Waddell commented, “we received over 250 enquiries throughout the campaign mainly due to the recognition of this iconic asset and the substantial combined landholding. All three properties 7-12, 13, 15 Horne Street were purchased by the one group, a locally based development company.

Benjamin Klein from Gross Waddell commented, “the purchaser’s intentions are to design and develop a landmark mixed use project with the benefit of views of Port Phillip Bay (STCA).