AND so all eyes turn to 50 Albert Road, in South Melbourne, after the decision this week by new planning minister Matthew Guy to reject a 29-level, 88-metre proposal across the road at #35, based on height. Hamton Property Group is planning to build a 28-level, 89-metre tower on its site at 42 – 50 Albert Road, having marketed the project, Fifty Albert, since the middle of last year. Both the Asia-based owner of 35 Albert Road, and Hamton, paid about $15.5 million for their respective South Melbourne sites last April. Hamton’s site was purchased with a permit for a 220-dwelling apartment complex. However it shrunk the size of the units so that 294 flats could fit within the approved building’s shell. The Victorian Civil and Administrative Tribunal approved that major amendment last August. By comparison the owner of 35 Albert Road proposed 420 apartments within an 88 metre tower. Another tower of similar height is proposed at 60 Albert Road, too. [...]
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ANOTHER prominent inner-city site, formerly occupied by 63-year old car dealership Flinkier Motors, has hit the market. This time at 390 – 396 Dynon Road in West Melbourne, a 1517 square metre site with residential or commercial redevelopment potential is expected to fetch about $1.4 million. The site was until recently occupied by National Hire and is still configured as an office warehouse. It’s surrounded by a mix of low rise industrial warehouses and the Maribyrnong River, which is also the Footscray suburb border. [...] ANOTHER prominent inner-city site, formerly occupied by 63-year old car dealership Flinkier Motors, has hit the market. This time at 390 – 396 Dynon Road in West Melbourne, a 1517 square metre site with residential or commercial redevelopment potential is expected to fetch about $1.4 million. The site was until recently occupied by National Hire and is still configured as an office warehouse. It’s surrounded by a mix of low rise industrial warehouses and the Maribyrnong River, which is also the Footscray suburb border. [...] VICROADS – whose days headquartered from dank offices in one of Melbourne’s ritziest suburbs are reportedly numbered – is expecting some $15 million from the sale of a 31.3 hectare residential development site on what is now Melbourne’s northern outskirts, but will soon be considered a middle-ring suburb. The Craigieburn site with a street address of 650 Hume Highway, is spread over two sides of the recently opened Hume Freeway*, which connects commuters to the Western Ring Road and the CBD in one direction, or the Metropolitan Ring Road, and a Greensborough traffic jam at the other. The Melbourne-Sydney railway line dissects the southern edge of both VicRoads sites, some 25 kilometres from town. [...] HOME builder Swenrick Constructions is offloading its south-east Melbourne headquarters ahead of a relocation. The 6738 square metre Springvale supersite, with street addresses of 782 – 794 Princes Highway and 2 – 4 Hillside Street (image, right), is used by Swenrick as offices and display suites. It’s spread over nine adjoining titles. It’s expected to sell for between $4 and $4.5 million, and be redeveloped into a medium density townhouse or apartment project with an end value of about $50 million. [...] DESPITE fears Melbourne’s $4.3 billion regional rail link might be shelved, Australia’s biggest developers are exploiting last year’s Urban Growth Boundary changes, continuing to quietly snap up farmland in Melbourne’s mid-west. This time, in Plumpton, Sydney-based Delfin Lend Lease has paid about $30 million for an approximate 63 hectare site on Beattys Road. The land was included within the revised UGB last year, and was understood to have been sold by Oliver Hume director – special projects, Peter Vassallo, who was unavailable for comment. Toni Mills, head of Delfin Lend Lease, told The Saturday Age’s Capital Gain it planned to undergo a planning and community consultation process to determine the most appropriate vision for the site. [...] ONE of the northern suburb’s most controversial residential development sites has sold for $6.7 million. The vacant AMF Northcote Bowl complex at 166 – 174 Victoria Street, on the north-east corner of Separation Street, was listed for sale by Hong Kong based conglomerate Far East Consortium last October. It paid Macquarie $5 million for the 4716 square metre site in early 2009, and shortly after, convinced VCAT to approve a permit which would see the distinctive centre demolished and replaced with 73 flats and 18 townhouses. One of the proposal’s criticisms was that the busy intersection, with thin roads, would be even more overrun with cars. Others argue the site’s previous use as a bowling centre would have contributed somewhat to the traffic in the area. [...] Total Properties: 60 Sold: 40 Withdrawn: 0 Cleared: 67% Total Sales: $14,092,700 Median: $460,000 Suburb Address Type Price Result Blackburn 14 Frankcom St 3 br h $860,000 VB Blackburn North 23 Gunyah Rd 3 br h $602,000 S Blackburn South 2/22 Richmond St 4 br h $600,000 PI Boronia 23 Matlock Rd 3 br h N/A PN Box Hill North 1/18 Medway St 2 br t $430,000 VB Brunswick 6 Hodgson St 2 br h $803,000 S Cairnlea 8 Eden Valley Rd 5 br h $835,000 SP Carnegie 4/40 Munster Av 2 br u $510,000 S Cheltenham 18/1-6 Chaprowe Ct 2 br u $405,000 S Clayton 4/1 Burton Av 2 br u $360,000 S Clayton 1/64 Kionga St 3 br u $475,000 SP Coburg 20 Hutchison Pl 2 br h $502,000 S Collingwood 305/1-11 Hoddle St 2 br u N/A PI Cranbourne 19 Broadstone Wy 3 br h $362,000 S Cranbourne East 7 Thunderbolt Dr 4 br h $385,000 SP Croydon 1/125 Dorset Rd 4 br h $580,000 VB Croydon South 18/27 Central Av 3 br t $455,000 SP Dallas 198 Railway Cr 3 br h $322,500 S Dandenong 21 Ray St 3 br h $465,000 SP Dandenong North 211 Gladstone Rd 3 br h N/A PN Elsternwick 3/66 Riddell Pde 2 br u $483,000 S Frankston 125 Frankston-Flinders Rd 3 br h $543,000 SP Gisborne 29a Howey St 3 br h $420,000 SP Glen Waverley 10 Charlotte St 4 br h $1,190,000 SP Glen Waverley 25 Leicester Av 3 br h N/A PN Glenroy 134 View St 4 br h $425,000 S Harkaway 16 Bellbird Av 4 br h $470,000 VB Highett 88 Turner Rd 4 br h $565,000 S Hillside 7/28 Ozzimo Dr 3 br h N/A NB Kealba 1 Donnelly Ct 4 br h N/A PI Kensington 308/40 Altona St 2 br u $475,000 VB Kensington 3/51 Epsom Rd 2 br u $358,500 S Kensington 18 Taylor Mw 2 br t N/A SN Meadow Heights 6 MacAlister Ct 3 br h $415,200 S Mount Waverley 2/59 Park La 3 br t $835,000 VB Mulgrave 69 Huxley Av 3 br h N/A SN Mulgrave 7 Mountain Cr 3 br h $506,000 SP Mulgrave 2 Saxony Ct 3 br h N/A PN Narre Warren South 40 St Ives Dr land N/A PI Narre Warren South 6 William Leonard Ct 3 br h $465,000 VB North Melbourne 15/51 Brougham St 2 br u $448,000 S Northcote 120 Charles St 4 br h N/A SN Parkdale 1/218 Como Pde W 2 br u $440,000 VB Pascoe Vale 3 Dorothy St 2 br h N/A PI Patterson Lakes 11 Lady Wellington Ct 4 br h N/A PN Point Cook 4 Palmtree Pl 5 br h $610,000 VB Riddells Creek 3 Moores Rd 4 br h $470,000 VB Ringwood North 72a Felix Cr 3 br h N/A PN Rowville 19 Clare Ct 5 br h N/A PI Roxburgh Park 17 Bentley Av 4 br h $422,500 S Seddon 1/26 Emma St 3 br t N/A NB Sunbury 26 Heysen Dr 3 br h N/A PI Taylors Lakes 15 Parrakeet Ct 4 br h N/A SN Travancore 2/31 Flemington St 2 br t $526,000 S Wantirna South 4 Gidgee Ct 3 br h $400,000 S Wantirna South 53 Pentlowe Rd 3 br h $424,000 S Wheelers Hill 117 Strada Cr 3 br h N/A PN Wheelers [...] Total Properties: 132 Sold: 78 Withdrawn: 2 Cleared: 58% Total Sales: $37,780,600 Median: $530,500 Suburb Address Type Price Result Albert Park 20 Boyd St 2 br h $860,000 S Albert Park 21 Greig St 2 br h $1,045,000 S Ascot Vale 3/251 Maribyrnong Rd 3 br t $515,000 S Ascot Vale 120 St Leonards Rd 3 br h $911,250 S Aspendale 5 Helm St 4 br h $800,000 VB Aspendale 12/148 Nepean Hwy 3 br t $595,500 S Attwood 1 Chandos Pl 4 br h N/A PI Attwood 7 Chandos Pl 4 br h $490,000 SP Bacchus Marsh 19 Manor St 4 br h $552,500 PI Beaumaris 16 Beach Rd 3 br h $1,400,000 VB Beaumaris 17 Beach Rd 3 br h $1,550,000 VB Berwick 7 Sunridge Pl 4 br h $500,000 VB Berwick 13 Vaucluse St 4 br h $425,000 SA Blackburn 3/8-10 Lithgow Av 3 br u $625,000 S Blackburn South 290 Blackburn Rd 4 br h $590,000 VB Box Hill North 14 Luther St 3 br h $630,000 VB Box Hill North 51 Peter St 4 br h N/A PI Box Hill South 45 Boardman Cl 2 br t $515,000 S Braybrook 19 Walker Pl 3 br h $471,000 S Briar Hill 24 Springfield St 3 br h N/A SN Brighton East 104 Thomas St 2 br h $686,000 S Brunswick 60 Barrow St 2 br h $701,000 S Brunswick 34 Victoria Gr 2 br h $670,000 S Brunswick West 5/218 Dawson St 1 br u $350,000 S Bulla 1 Uniting La 6 br h $1,300,000 S Burnside Heights 7 Remington St 4 br h $420,000 VB Burwood East 25 Rochdale Dr 3 br h $790,000 S Camberwell 21 Orrong Cr 3 br h $1,300,000 PI Caroline Springs 2 Hammersley Pl 3 br h $345,000 SP Croydon 14 Glen Av 2 br h $597,500 S Dandenong 34 Ray St 3 br h N/A SN Dandenong North 1/276 Gladstone Rd 4 br t $440,000 VB Deer Park 18 Runcorn Cr 3 br h $400,500 S Deer Park 13 Stevenston St 3 br h N/A PN Doncaster 311 George St 5 br h $1,235,000 PI Donvale 81 Roy St 3 br h $550,000 S Endeavour Hills 45 Joseph Banks Cr 3 br h N/A PI Endeavour Hills 13 Rhonda Cl 3 br h N/A SN Essendon 9/56 Nicholson St 1 br u $350,000 SP Essendon 7/137 Woodland St 1 br u $290,000 VB Fairfield 14/57 Gillies St 1 br u $310,000 S Fairfield 5/156 Station St 1 br u $278,000 S Flemington 38/22-26 Canterbury St 1 br u N/A NB Flemington 83 Canterbury St 2 br h $651,000 S Flemington 50/2 Newmarket Wy 2 br u $440,000 SP Footscray 361 Barkly St 2 br t N/A PI Footscray 13 Central Av 4 br h $900,000 SP Footscray 2/11 Eldridge St 2 br u $282,000 SP Footscray 24/55 Moreland St 3 br t $625,000 VB Frankston 11 Cambridge St 3 br h $340,000 PI Frankston 17 Frome Av 3 br h $340,000 PI Frankston North 33 Pine St 3 br h $262,000 S Frankston South 32 Harcourt Av 3 br h $500,000 S Gisborne South 110 Tweddle Rd 4 br h $850,000 VB Gladstone Park 25 Elmhurst Rd 3 br h $400,000 S Glen Iris 1/16 Dickens St 2 br u $610,000 S Glen Waverley 37 Fraser St 4 br h N/A PN Glen Waverley 2/33 Mount St 3 br u $635,000 S Hallam 1 Mount View Av 3 br h N/A PN Hawthorn 11/183 Auburn Rd 2 br u $411,000 S Heidelberg West 4 Ebony Pde 3 br h $460,000 S Highett 5/15-17 Karen St 2 br u $333,000 S Hillside 40 Catherine Dr 3 br h $420,000 S Hillside 3 Favaro Pl 3 br h N/A PI Keilor East Lot 130 Quartz Ct land $380,000 VB Kensington 21&21a Gatehouse Dr o res $620,000 VB Kensington 142 Kensington Rd 3 br t $675,000 S Kensington 32-34 Newman St 3 br h $765,000 S Kensington 18/162 Stockmans Wy 2 br t $530,000 S Kensington 10 Taylor Mw 2 br t $550,597 SP Keysborough 14 College Cr 4 br h $500,000 S Keysborough 92 Kingsclere Av 5 br h N/A W Keysborough 8 Tundra Wy 4 br … [...] FABRIC store retailer Lincraft has paid $6.5 million for an office warehouse building at Derrimut’s Gilbertson Industrial Estate. The 2.53 hectare site at 60 Fulton Drive includes a 9114 square metre office warehouse, and was sold with a short term lease to distribution company Axima. Lincraft, which was in receivership just six years ago, before being bought out, will owner occupy the western suburb site, ending a search that saw it hem office warehouse all around metropolitan Melbourne. “It’s been many years since a property of this quality was offered for sale to an owner occupier within the Gilbertson Estate,” said Colliers International agent Nathan Bingham, who sold the site with Tony Iuliano. [...] |
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