A LUXURIOUS homestead near Wilsons Promontory – occupied by Crown-Prince Frederik of Denmark during the Olympic Games and immediately after he met his wife-to-be, Mary – has hit the market. The Waratah Park Country House has been fitted out as a high end, six-bedroom country club and is asking $1.65 million. An adjoining parcel of land with a 54-lot residential subdivision is for sale asking $1.5 million. John H Castran director John Castran is the marketing agent. [...]
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COLONIAL First State pocketed $14 million this week from the sale of a portfolio of shops opposite its sizeable Forest Hill Chase Shopping Centre in Melbourne’s east. They Sydney-based developer and fund manager offloaded 18 of the 23 shops listed for sale, and after a campaign targeting mum and dad investors. The sold shops range in size from 50 square metres to 500 square metres, and traded for between $350,000 and $2.5 million, and on yields of between 3.78 per cent and 8 per cent. [...] AUSTRALAND has reaped $15 million from the sale of three industrial warehouses in the western Melbourne suburb of Derrimut. On the other side of town, at 635 Waverley Road in Glen Waverley, a private investor has paid $9 million for a 2.8 hectare site that included a 15,021 square metre office warehouse. The sales, reported in the AFR, come as private investment group Eang and Taing put 100 hectares of englobo land to the market at 496 – 523 Frankston Dandenong Road in Dandenong South. Based on a price expectation of $250 per square metre, the site would trade for about $250 million. [...] HONG Kong based developer Far East Consortium is ready to redevelop one of the Melbourne CBD’s biggest remaining development sites. Planning Minister Justin Madden this week approved the construction of a $1 billion-plus, multi-skyscraper compound, to replace the notorious eyesore known between 1950 and 2008 as the Lonsdale Street power station, at the Docklands-CBD suburb border, opposite the Southern Cross train station. The Upper West Side complex, as it has been marketed, will include four major skyscrapers between 31 and 50 levels – linked by a one hectare podium rooftop garden – with a veggie patch and children’s play area. Retail will flank the ground levels. [...] |
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