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The Block Albert Park warehouse price appreciation in history

The Block Albert Park warehouse price appreciation in history
The Block Albert Park warehouse price appreciation in history

The producers of the Block series, Watercress Productions has paid $5.85 million for the warehouse at 47 O'Grady Street, Albert Park.

It's a red brick warehouse sold by a company associated with Lloyd Williams, the Melbourne property developer.

albert-park-aug-6-breakout

Dux House (pictured above), a 1176 square metre office building was the subject of a VCAT application seeking it refitted as six large dwellings over four levels to an Allan Powell-architect design.

Property Observer has obtained its six previous sale prices.

It shows that the price appreciation over the past six years was 0.7% annually.

It previously sold in 2007 at $5.61 million, reflecting 28% annual growth over the prior two years.

At $3.2 million in 2005, reflecting 9% annual growth over the prior nine years.

At $1.49 million in 1997, reflecting 36% annual growth over the prior 12 years.

At $325,000 in 1985, reflecting 32% annual growth over the prior two years.

At $190,000 in 1983, reflecting 35% annual growth over the prior three years.

And at $66,250 in 1979.

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