The submission of plans for six residential skyscrapers to be developed on the 1.7 Hectare Spencer Street site between Lonsdale and Little Lonsdale Street has been received with mixed emotions.
Some have referred to the proposal as a much needed “rejuvenation” of the city’s tired West End, whilst others have voiced serious concern over the threat of the market being overloaded with a further 3000 dwellings. With such close proximity to the current development site ‘The Upper West Side’, with approximately 2600 apartments being built, many owners are being forced to evaluate how another development of this magnitude will affect the value of their current investment.
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To discuss this issue in greater detail please contact Harcourts City Residential on 03 9664 8100.