Vinci Carbone agent Frank Vinci said the single-storey brick building at 4-12 Leicester Place attracted six bidders and two fought it out in final $100,000 bids.

The property with significant development upside – the potential to build a structure up to 40-metres tall – sold for $9.1 million.

Carlton's proximity to Melbourne and RMIT universities was a significant driver, he said.

Another development site in Box Hill sold for $4.6 million to a Chinese buyer after aggressive bidding, CBRE's Scott Orchard said.

The auction of 757 Station Street attracted a 100-strong crowd. Six local and offshore parties were involved in the bidding.

The final sale price reflected about $115,000 per unit for the site and was evidence of continuing demand from Asian buyers, he said.