|
|
|||
 SOME Brighton mansions may be languishing on the market for months – and then end up selling for far less than initial asking prices. But demand for the suburb’s smallest real estate is continuing unabated – even selling for a nifty profit between economic downturns. This week new Brighton agency Nick Johnstone Real Estate sold bathing box 40 on Dendy Beach, for $210,000 before a scheduled auction. The vendor bought the cream coloured wooden box two years ago for $170,000. [...] A LEANER, greener proposal to redevelop the 1.5-hectare St Kilda Triangle site should be unveiled by next year – allowing construction to start soon after. The City of Port Phillip, which includes many new councilors elected on the back of protesting a controversial 2007 proposal – has started a community consultation program designed to create a new vision for the blue ribbon asset, next door to the Palais Theatre, opposite St Kilda Beach. Its recently released Toward a Shared Vision document summarises feedback from a public ideas forum held about the redevelopment in June. Amongst the 40 attendees were architects, planners, council staff and members of the Acland and Fitzroy street traders’ associations. [...]  LOCAL developer CGA Bryson is selling a prominent Camberwell development site it bought just 15 months ago. Opposite the City of Boroondara council offices, and the Camberwell Civic Centre, the 4383 square metre site at 347 Camberwell Road (aerial shot of site, pictured, right) is being offered with a permit to develop an 8277 square metre office building. Commercial office rents in Camberwell are amongst the most expensive in suburban Melbourne, achieving more than $300 per square metre, per annum in some cases. [...]  THE popular Bendigo Art Gallery (part of interior pictured, right) is to expand, again, to cater for two new gallery spaces, a bigger entrance and new storage and loading facilities. The $7.55 million project will be funded by a $3.8 million state government contribution, a $3.3 million council contribution and a $450,000 philanthropic offering. City of Greater Bendigo Mayor Cr Rod Fyffe said the expansion is part of councils View Street Arts Precinct Master Plan. [...]  THE new owners of a disused city college near the Queen Victoria Market in the Melbourne CBD have lodged an application which would more than doubles the size of a proposed apartment tower approved by council just four months ago. If permitted, the former Carrick Education College, on a battle-axe shaped site at 48 – 50 A’Beckett Street could make way for a 39-level tower rising 121 metres, and distinguished by a 40-metre podium at street level. The new proposal would replace a permit issued in April by the City of Melbourne to redevelop the 723 square metre block into an 18-level apartment building rising 60 metres. This permit was issued after council rejected another application, lodged in November 2010 and for a 45-level tower, based on height and setback. [...] SINGAPORE based private investor Philip Lim is understood to be the mystery buyer paying $89.2 million for an asset on the footsteps of the Bourke Street Mall. The Target Centre, at 222 – 244 Bourke Street was listed for sale earlier this year by Wesfarmers controlled Coles Group. The asset includes 10,077 square metres of retail space, and an 11,113 square metre office component. Tenants include Vintage Cellars, Gloria Jeans, Jetstar and Monash College but Target occupies the majority of the building which returns $6.4 million in annual rent, and is said to be selling on a yield of 7.2 per cent. [...]  A CHINA-based developer is understood to have paid $3 million for a 1465 square metre development site near a prominent Doncaster Hill junction, about 13 kilometres east of town. The 86 – 88 Tram Road sold with a permit for a six-level, 28-unit tower, each with balconies and car parks. The site is about 150 metres from the corner of busy Doncaster Road, and near Westfield Doncaster – the site Sydney-based retail giant Westfield chose to develop its first Melbourne shopping centre in 1969. [...]  IT’S not just developers pushing Melbourne’s planning limits. Entrepreneurs who earn their living outside of real estate are also dreaming up the city’s next landmark towers – cashing in on Melbourne’s trifecta of a booming population, the need to create construction jobs and a so-called collapse in housing affordability. This time, at 36 – 40 La Trobe Street, lawyer and migration agent Konfir Kabo is proposing to demolish the historic low-rise GMK House building and replace it with one of Melbourne’s skinniest residential skyscrapers. [...]  CONSTRUCTION of a contentious Camberwell apartment project dubbed by locals as “Melbourne’s ugliest tower” is now not likely to start until at least next year. State government agency VicTrack, with private developer Tenterfield, spent ten years pushing through a $100 million mixed used village, The Place, to replace land atop the Camberwell train station, east of Burke Road. The Place was approved by the Victorian Civil and Administrative Tribunal last April – just seven months before the controversial state government planning policy it relied on, Melbourne 2030, was shredded by the new Baillieu government. [...]  MELBOURNE’s Southern Cross rail station (pictured) – formerly known as the Spencer Street Station – could get a $2 billion upgrade, as part of plans to build a high-speed rail link to Sydney. The rail tunnel, proposed within a federal government study last week, could cost between $61 billion and $108 billion. The trip between Australia’s two most populated cities could take three hours, with the train reaching speeds of 350 km/h (outside of the capitals, where they’ll travel about 200 km/h). This compares to about an hour, by plane, or about nine hours by road. [...] |
|
||
|
Copyright © 2012 My Melbourne Real Estate - All Rights Reserved Powered by Yahoo! Answers |
|||