LEIGHTON Properties has made about $20 million from the sale of a new office building, and adjoining 20,000 square metre development site, on the suburb border of Cheltenham, Sandringham and Highett.

The prominent properties, between 294 – 300 Bay Road, were part of a much larger 6.2 hectare (62,000 square metre) industrial parcel Leighton Properties picked up for $22 million in 2005.

Leighton Properties Senior Development Manager Simon Lowe and Nichols Crowder director and selling agent Matt Nichols confirmed the sale when contacted by Capital Gain, but declined to comment on the details of the buyer or price.

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