News - 01 / 12 / 2012
Launch Corporation buys an exciting new development site in the heart of Brighton
Launch Corporation is pleased to announce its recent acquisition of 26 Warleigh Grove, Brighton for $6.51 million.
Located in a prime residential area of Brighton, a stone’s throw from the Bay Street retail and café precinct, and in close proximity to public transport, the 2,599 m2 site comprises a block of 17 older style apartments, which are currently let on short-term leases.
"The property has been tightly held by a private owner for more than 40 years and we were pleased that we could successfully negotiate the sale said." CEO Michael Kokkinos.
Launch Corporation has developed a master plan for the site that will see the existing apartments demolished and the construction of a new building consisting of approximately 70 luxurious apartments with bay and city views.
"The popularity of this location is demonstrated by the success of the surrounding projects including 380 Degrees and The Warleigh. When completed this will represent one of the last opportunities to obtain an apartment in this highly sought after residential precinct of Brighton." Michael Kokkinos.
The property was offered by Tender and was subsequently sold by CBRE's Alex Zent and Justin Clarkson.