New Steller Developments On the Way

New Steller Developments On the Way

Steller is continuing its dominance of Melbourne’s suburbs with the $25 million purchase of a 2,400 sqm commercial site at 233-247 Glen Huntly Road, Elsternwick.

The latest acquisition follows the purchase of a number of other development sites including 22 Wood Street in Preston for $13.6 million, 6-12 Davey Street in Frankston for $13.5 million and 36 Graham Road in Highett for $18.8 million.

“From our point of view Melbourne’s property industry has never been stronger. We sold 30% more stock in the first half of this year compared to last year, which shows there is still significant demand for well-planned high quality apartments in the suburbs of Melbourne,” said Nicholas Smedley, Managing Director of Steller.