Wyndham Vale is a suburb in Melbourne, Victoria. It is located about 35 kilometres south west of the central business district of Melbourne and is one of the suburbs that are attracting a lot of attention from a real estate and [...]
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IT was described as the “best bargain development site” to sell during the economic downturn, and now builder EG Funds Management is ready to cash in. The former Hedley Sutton Retirement Village, on the corner of Canterbury Road and Gascoyne Street, is being replaced with a medium density housing project, called The Canterbury. EG paid Baptcare just $12.53 million for the 8161 square metre site in late 2008, at a particularly depressed time in the residential development site market. [...] GONE are the days when St Kilda Road complexes were limited to about 12 levels. With the sky now the limit in regard to residential development in Melbourne – the value of a low rise office, with three street frontages at 472 – 474 St Kilda Road has ballooned over the past four years. Sources say Industry Superannuation Property Trust has entered advanced negotiations with an as-yet-undisclosed residential developer, to sell the Clemenger BBDO House building for about $37.5 million. ISPT paid $29.6 million for the asset in October 2006. [...] THE Monash City Council didn’t want it – but Planning Minister Justin Madden did – and now one of the south-eastern suburb’s biggest public-private housing developments is set to start construction soon, in Clayton. After more than ten years of debate, a $270 million apartment-based complex will replace a low-rise shopping centre at the busy north-east corner of Dandenong and Blackburn roads. Approximately 400 apartments will be developed as part of The Nova Centre redevelopment – many to accommodate public housing residents, and students. A hotel and shopping centre will also be built on the site. [...] |
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