News - 06 / 05 / 2011
Launch Corporation Buys High Density Site at Southland
Launch Corporation was the successful bidder for a versatile development site in the heart of Cheltenham Business Precinct next door to Southland Shopping Centre.
“The property was offered for the first time in 50 years and we were very pleased to acquire the site on our terms considering it was made available via an open public auction” Michael Kokkinos, CEO of Launch Corporation.
The 1,100 square meters site at 9 Chesterville Road sold for in excess of $2 million and is currently occupied by the Cheltenham Chiropractic Centre.
Domenic Valastro, Director of Planning for Launch said “The site lends itself to diverse opportunities being situated within a Residential/Business Zone of a Major Activity Centre and in close proximity to Southland Shopping Centre. Preliminary plans include Medical Suites and Residential Accommodation for 40-plus apartments and car parking.”
Interim discussions with the Council suggest that a 4 to 5 story proposal would be supported pursuant to the City of Kingston Planning Guidelines.
The property was sold post auction by FITZROYS director David Bourke and Julian Heatherich.