Terry Shaw snaps up Campbell blocks at auction

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An consortium headed by local property developer Terry Shaw has paid $63.75 million to purchase all five of the lots that were sold this morning at the Campbell 5 auction.

29 groups were bidding in the auction at the National Portrait Gallery.

The first block to go under the hammer was a mixed use site of 7,020 sqm which allows for up to 205 dwellings plus commercial space. This lot sold for $15 million.

The second block permits up to 103 dwellings and also has the potential for a hotel to be built on the 5,719 sqm site and was bought for $13.5 million.

The 4,257 sqm block sold for $14.5 million and allows for up to 110 dwellings and also has the potential for a hotel on the site.

The smallest block of 2,095 sqm allows for up to 50 dwelling plus commercial space and sold for $9.75 million.

The remaining 2,382 sqm block sold for $11 million and allows for up to 60 dwellings as well as commercial space.

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