Paul Little lists South Yarra site for about A$8m
Paul Little is marketing a cleared 493 sqm site at 38-40 Claremont Street, South Yarra, expecting about A$8m, Brisbane Times reports.
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Brisbane Times reported on 6 November 2026 that billionaire Paul Little is again trying to sell a development site at 38-40 Claremont Street, South Yarra (Melbourne), with agents expecting about A$8 million. The outlet says the cleared site overlooks the hockey pitch at Melbourne High School.
Why it matters
The listing puts a price on a site in the Forrest Hill precinct, which Brisbane Times says was in the early days of moving from light industrial use to high-rise apartment towers when Little bought in 2007. Only a thin run of low-rise buildings on Claremont Street is left from that era, the outlet says.
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It also reads as a second attempt. Brisbane Times says Little is “having another stab at selling” the site, though the report does not say when or how the earlier effort ended.
Allard Shelton agents Joseph Walton and Ben Tremellen hold the listing, according to the outlet.
The numbers
Brisbane Times reports the site is 493 sqm and once held an office-warehouse. It was bought for A$2.6 million in 2007 from liquidators, per the outlet. Against the A$8 million expectation, the expectation is about three times the 2007 price (our calculation from the two figures), and the report gives no holding costs.
Spread across the site area, A$8 million is roughly A$16,200 per sqm. That is our calculation from the outlet’s two figures, and it is an expectation, not a sale price.
The report also points to a neighbouring comparison. Records show, it says, that the adjoining property at 24-26 Claremont Street sold last year to Pellicano Living, the build-to-rent arm of the Pellicano Group, for A$7 million. The agents on that deal were Gross Waddell ICR’s Andrew Greenway and Michael Gross. Brisbane Times does not give a site area for that sale, so the two prices cannot be compared on a per-sqm basis from the report.
What’s next
The report does not state a sale method, a closing date or a planning status for the site, and we have not seen a current permit. Brisbane Times notes that a 19-storey apartment tower plan for the site was rejected in 2012, in part because it included no car parking. It adds that the site had a hotel permit in 2022 and now has plans for student accommodation, but the item is not specific about what stage those plans have reached.
Further along the street, the outlet says construction has started on Wattletree’s 16-storey South Yarra House, where only seven of 53 apartments remain for sale.
Whether a buyer pays near A$8 million will show what the market puts on a small cleared site in the precinct. For now, the number is the agents’ expectation as relayed by Brisbane Times, and no sale has been reported.
For another South Yarra story, see our earlier piece on the Simmons Street public housing renters tour.
Source: Brisbane Times, 6 November 2026. Compiled by The Australian Developer.
Quick answers
What are the key numbers in this story?
expected price: A$8m; cleared site: 493 sqm; 2007 purchase: A$2.6m.
Where does this information come from?
This story cites Brisbane Times. Every source is linked on the page.
On the record
A$8m across 493 sqm works out at roughly A$16,200 per sqm, an expectation not a sale price (our calculation from the outlet's two figures).
Our data · brisbanetimes.com.au
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