THE 47ha Eastern Golf Course at Doncaster has been sold to developer Mirvac, the club has revealed. The site was tipped to go for more than $100 million but the club has chosen not to disclose the result because the sale is conditional on the club obtaining a permit for its new course in Yering. The Victorian Civil and Administrative tribunal blocked the permit in December because of potential flooding issues. In a letter to members dated May 23 and seen by the Leader , Club Captain Peter Dane said the sale was a “wonderful milestone’’. Mr Dane said the club anticipated it would remain at its Doncaster course until early 2014. A development strategy, released last week by Mirvac, revealed plans for 621 lots on the site. A State Government planning panel’s report on Manningham Council’s proposed planning scheme amendment, which would require the 20 per cent of the site be retained as open space, is expected soon. For more see next week’s Manningham Leader. [...]
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THIS 14-storey apartment block will be Frankston’s first high rise since the Peninsula Centre. The 89 apartments on Davey St, with a street-level cafe and gym, were approved by council last week. > > Do you support this type of development for Frankston? Tell us below Selling agent Adrian Foster, of Hocking Stuart, said 13 people had paid deposits to secure units with bay views. Supporters of the plan said it would help regenerate the city centre but others declared the building an eyesore and a parking nightmare. Cr Glenn Aitken said the elevated position meant it would spoil the view from the waterfront. “The developer is taking maximum advantage of that site without any real return for Frankston,” Cr Aitken said. However, Cr Brad Hill said Frankston, which claims to be a sustainable city, should embrace such development. “Trying to get a development on less space and encourage people without cars to move in is a good thing,” Cr Hill said. Cr Christine Richards said Frankston needed more housing to cope with a growing population. “This is close to shops, entertainment centres and transport. I have no problem with the quality of this design but we need to talk to the developer about parking.” The design has 79 underground car spaces for the 89 apartments and no visitor spots. Mr Foster said the complex will be of “real benefit to Frankston and an injection of cash into the (CBD)”. “People will be living and shopping in the city centre,” he said. [...] See original [...]  SYDNEY-based developer Stockland has absorbed a huge financial loss, finally on-selling a prominent South Yarra development site it paid too much for in 2008. Stockland has reaped $22.5 million for 2 – 4 Yarra Street site, which is set to make way for an approximate 30 level apartment tower with more than 350 flats. During the economic downturn, Stockland paid local developer Michael Yates $26.25 million for the 2150 square metre site. At the time of sale Stockland wanted to build about 250 flats on the site, but it successfully lobbied to increase that number to 353, before listing the asset for sale more than a year ago (image of Stockland’s proposed tower, right). [...]  COMMONWEALTH Fund Management’s decision to preserve million dollar views (and rents) at its prized 101 Collins Street office building by imposing pre-set height limitations on a swag of neighbouring buildings it offered for sale nine years ago, appears to have paid off. One of the buildings sold by the fund –the historic Rosati’s restaurant at 95 Flinders Lane – has quietly been approved a redevelopment within the maximum 40 metre height limit CFM had hoped. The Melbourne City Council approved plans will result in the 1896 former warehouse being part-demolished and replaced with a lower level shopping centre, and a 10-level residential or hotel building. Hotelier and restaurateurs the Zagame family paid Rosati restaurant owner Piero Gesualdi $9 million for the 817 square metre Flinders Lane property in early 2007. [...] See the original post [...]  AWARD winning Alpine chalet Under The Moonlight has been listed for private sale. The opulent Dinner Plain home, developed by R&R Van Heek Builders, won the 2009 Housing Industry Association’s Colorbond Most Innovative Use of Steel award. Judges said Under The Moonlight “commands attention and yet does not over-impose on the area’s natural landscape.” Under the Moonlight is part of the highest approved freehold land in Australia, and ten minutes from Mount Hotham. Dinner Plain is about a five hour drive, or almost 400 kilometres from Melbourne. [...]  AWARD winning Alpine chalet Under The Moonlight has been listed for private sale. The opulent Dinner Plain home, developed by R&R Van Heek Builders, won the 2009 Housing Industry Association’s Colorbond Most Innovative Use of Steel award. Judges said Under The Moonlight “commands attention and yet does not over-impose on the area’s natural landscape.” Under the Moonlight is part of the highest approved freehold land in Australia, and ten minutes from Mount Hotham. Dinner Plain is about a five hour drive, or almost 400 kilometres from Melbourne. [...]  LITTLE Milton, the luxurious home of late businessman and Corona Group executive John Batkin quietly hit the market this week. The circa 1926, five-bedroom mansion (pictured, right) is at the north-east corner of Whernside Avenue, and Albany Road – which most advocates and agents agree is Toorak’s most expensive street. Recently, a new tennis court was developed atop a 12-car underground garage, Little Milton’s overall block size is 2476 square metres. [...]  LITTLE Milton, the luxurious home of late businessman and Corona Group executive John Batkin quietly hit the market this week. The circa 1926, five-bedroom mansion (pictured, right) is at the north-east corner of Whernside Avenue, and Albany Road – which most advocates and agents agree is Toorak’s most expensive street. Recently, a new tennis court was developed atop a 12-car underground garage, Little Milton’s overall block size is 2476 square metres. [...] |
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