A flurry of properties have been transacted around the Queen Victoria Market, despite council’s redevelopment plan being potentially down the drain.
The property at 422 Queen St, just directly opposite the market, has been sold off-market for reportedly more than $6 million.
This sale came weeks after two adjoining freehold buildings were sold at 132-140 Franklin St and 142-146 Franklin St.
Agents at Colliers International, who transacted the sale, said the northern pocket of the CBD was witnessing a lot of activity.
“There’s a momentous energy in the market right now,” agent David Sia said.
“The redevelopment of the QVM and the construction of the Melbourne Metro Rail are driving an incredibly positive sentiment and investors are just desperate to secure real estate in the surrounding locale.”
“The burgeoning precinct is set to generate unprecedented economic stimulation in years to come, with short term opportunities to capitalise on current demand for hotel, residential and student housing,” Mr Sia said.