Colliers’ Development Sites Hamish Burgess, Joe Kairouz and Jozef Dickinson facilitated the sale at 28-34 Service Street, Hampton on a $4,731/m² land rate.

The property is located in the heart of one of Bayside’s most prestigious suburbs and is walking distance to an abundance of retail speciality stores along Hampton Street, 450m* from Hampton Train Station and 600m* from Hampton Beach.

Colliers Director Hamish Burgess said, “Hampton has and always will be highly prestigeous and sought-after. Demand for top tier sites in prime locations remains extremely strong. The site was contested by both local residential developers and intersate developers who were attracted by the impressive beachside location and the 70m* north facing street frontage.”

“In proven locations such as Hampton, there is strong demand to supply the local owner occupier market comprising equity rich downsizers, returning expats, and aspirational younger families.”

Colliers’ Development Sites team have seen strong demand and premium results in the Bayside market throughout 2021-2022. Recent development sites sold by the team include 28-34 Service Street Hampton, 1 & 1A Centre Road, Brighton East and 19-25 Oakwood Avenue, Brighton.

“The successful outcome achieved on these sales is an acute example of an established market with consistent buyer demand driving developer appetite.” Mr Burgess added.

Noetic Places Director Stephen Barrow-Yu, the Developer of the nearby project Reunion Place added “We are excited by the purchase and are now committed to a process of community engagement and design, ensuring a development appropriate to an incredible and important site, which will be named Noetic Place.”

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