Successful sale of two major Box Hill development sites
The team, led by Barry Wight and Lou Todesco, were assisted by Colliers International in the landmark sale of the former St Leo’s College site in Box Hill South – a 50,116sqm residential infill development site.
Over 200 enquiries were received, and 13 bids placed on the property, which sold for $61 million.
Cor Cordis also partnered with Knight Frank in the recent sale of a Box Hill commercial development site. The property sold for $8.5 million after a highly competitive EOI process that resulted in multiple offers.
Both sites secured outstanding results and exceeded valuations.
Barry Wight noted “Cor Cordis has now successfully delivered on a number of large distressed property transactions throughout the 2020 pandemic. Despite the uncertainty of the pandemic, underlying property values have held up, underpinned by an unabated demand for quality development sites, combined with high levels of liquidity from local and international investors given the continued confidence in this asset class. We thank Colliers and Knight Frank for partnering with Cor Cordis to help deliver these outstanding results.”