Hodges Real Estate

Landmark changes in Bentleigh

October 13, 2014 Bentleigh Office News

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The Moorabbin Leader recently published an article on the significant amounts developers are willing to pay for land in Bentleigh, signalling dramatic changes for the area.

The recent sale of a the Broadbents Garden Supplies centre for just over $4 million saw the $4000 sq m mark passed for the first time in Bentleigh.

Frank Ruffo, Hodges Bentleigh director, says the suburb is becoming more desirable to younger buyers, resulting in developers snapping up land.

Furthermore, new planning zones mean it is now easier for apartment buildings to be developed in the area, demonstrated by the site of the garden supplies centre, which will now be transformed in to a multi-level retail and apartment complex.

Mr Ruffo said the international developer who bought the Broadbents site was one of 14 bidders on auction day, all of them developers.