A DEVELOPER has paid $5.95 million for a 2.7 hectare site in Maidstone, with plans to convert the former factory into a series of apartments and townhouses worth upwards of $50 million. The Mitchell St property abuts the Maribyrnong suburb border and is within walking distance to Highpoint Shopping Centre. The sale comes after Star detailed the most expensive residential sales across the City of Maribyrnong in 2010. A three-storey, 69.5 square property along Edgewater Estate’s Cumberland Drive earned the most expensive price tag, selling for $2.7 million.
