Prime Cremorne development site hits the market
Image credit: JLL
The Ronen family has listed the ex-Stitches building in Cremorne for sale through an expression of interest process expected to net more than $80 million.
Located at 167-169 Cremorne Street, the impressive site has four street frontages on Cremorne, Dover and Bent Streets and the CityLink Freeway. It covers a total of 8,320 square metres.
The current building – a warehouse converted to office space – was most recently occupied by MYOB before being leased by ASX-listed firm Ventia.
The Ronen family will make an impressive gain on the property, having purchased the site in 2003 for $8.2 million.
Zoned commercial 2, the site is ripe for development in a suburb already inhabited and loved by several business juggernauts – including Tesla, Carsales and Seek.
JLL’s Josh Rutman, Paul Kempton, Jesse Radisich and MingXuan Li are handling the sale. Expressions of interest close on Wednesday 18 October at 2 pm.
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