Aitken Partners advises on record property sale

Property Law: 22 March 2019

Aitken Partners has assisted VicRoads in achieving a record result for a property sale in the northern Melbourne suburb of Thomastown.

The industrial property sold for a price representing $230 per square metre and $500,000 over the reserve price.

Aitken Partners prepared a substantial Contract of Sale and Section 32 Vendors Statement which included custom special conditions in relation to potential environmental contamination. We also were involved in the commissioning and exhibiting of extensive reports on the state of the property and the remediation works carried out by VicRoads.

At $230 per square metre the selling agent's, Knight Frank, believe this to be a record for this type of site in the area.

The Aitken Partners team included Tony Raunic, Julie Maxfield and Kristi Pridham.

This sale is one of several major sales Aitken Partners are handling for VicRoads.