A CBD building, offloaded by the Royal Melbourne Institute of Technology five years ago, has been listed for sale this week as a major residential development site.
 
The 410 Elizabeth Street office, known to RMIT staff and students as Building 87, will be sold with a development permit for a 50-level apartment building, capable of accommodating hundreds of units.
 
The property is owned by developer Michael Buxton, who paid RMIT $8.25 million for the office in 2004, before working on obtaining a residential development permit.

Read more...