Lemon Baxter described the property as representing "an unprecedented future high rise development opportunity. Similar sites within the area are proposing applications for high rise of between 21-50 Levels (STPA)."
As reported by Marc Pallisco in The Age on April 20, 2013 the "Thistlethwaite Street site is the first offered for auction in Montague since last year's Capital City 1 rezoning. The agents expect $4m which would reflect a land rate of about $3,300 a square metre. Before the rezone, the rate per square metre of land was about $2,000."
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