City synergy

A MAJOR development site at 378 Murray Street is back on the market with a $9 million price tag, plus GST.

Lyrical Holdings has put the 5,120 square metre site back onto the market for sale by private treaty.

The site includes an existing development approval for a development concept named Synergy.

The mixed-use development has provision for a 19-level residential tower, a 14-level hotel tower and eight floors of office space.

However, the site also could be developed according to the specific requirements of the buyers.

The site’s frontage onto both Murray and Wellington streets provides interesting opportunities for a mixture of retail, commercial and residential uses.

DTZ Australia managing director Brad Carey said the site was put up for tender last year and generated a fair bit of interest.

“The vendor has a very specific mix of uses for the site potentially, including a hotel,” he said.

“I think what is more likely to happen is someone will use the Murray Street frontage for retail and then possibly some residential.”

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