BOUTIQUE developer, Samuel Property have acquired an 1,870 site in Melbourne’s exclusive Brighton for a $45 million residential development.
The acquisition of 74-78 Well St is the group’s 12th major acquisition over the last five years.
Samuel Property has engaged Bayley Ward to develop its architecture and interiors, which will be their fourth partnering, and follows their recent collaboration on residential development Caspian in Hampton.
About $55 million of Samuel Property’s $200 million development portfolio has been settled throughout 2019.
The Well St will feature a small collection of apartments “designed for ultra-discerning buyers who appreciate a walkable lifestyle”, with the Church Street shopping precinct only moments from the site, Samuel Property managing director, Illan Samuel said, describing the tree lined side street as a “quintessentially Brighton” location.
Permits have been secured and an official project launch is scheduled for early next year.