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 SIXTEEN months after it first hit the market, the outgoing Pakenham Racecourse and Showgrounds site is believed to have found a buyer. Well placed industry sources say the vendor, the Pakenham Racing Club, is set to pocket about $30 million from the sale of the 25.85 hectare property, which abuts the Pakenham train station, about 55 kilometres south-east of town. The estimated sale price is far less than the reported $38 million developer The Corcoris Group agreed to pay for the site early last year, before withdrawing from the transaction in September. [...]
The Australian Property Growth Fund is expected to reap about $30 million, sources say, for a large Richmond office building which is occupied as offices for Solomon-Lew backed retailer Country Road. Part of a business park at 658 Church Street, near the Yarra River and South Yarra border, the Country Road headquarters is visible to Citylink commuters around Richmond. Colliers International director Peter Bremner is marketing the Richmond property, a former electrical substation, with Dawkins Occhiuto’s Andrew Dawkins and Walter Occhiuto. [...]
 SYDNEY based fund manager Charter Hall has paid $32.5 million for the Lansell Plaza near Bendigo in regional Victoria. The purchase, from the Centro Group is expected to settle at the end of January. According to the AFR which reported the deal, the shopping centre (black and white image from the National Gallery of Victoria) reportedly sold on a yield of 9 per cent. [...]
 SYDNEY based fund manager Charter Hall has paid $32.5 million for the Lansell Plaza near Bendigo in regional Victoria. The purchase, from the Centro Group is expected to settle at the end of January. According to the AFR which reported the deal, the shopping centre (black and white image from the National Gallery of Victoria) reportedly sold on a yield of 9 per cent. [...]
THE Yarra City Council has approved the $400 million redevelopment of Channel Nine’s long-time Bendigo Street studios, in Melbourne’s inner east. [...]
 THE Ascot Vale home where underworld figure Desmond “Tuppence” Moran was nearly killed sold at auction this weekend for $1.105 million. The Langs Road home, opposite the northern boundary of the Flemington Racecourse and near the Flemington suburb border, is on a super-sized 1020 square metre block, and includes a historic large home with postcard Melbourne CBD skyline views. It is not known whether the new owner will restore the salmon pink home, or replace it with a newer home. [...]
 ST KILDA West’s prominent “Pamela Anderson House” (pictured, right) has been relisted for private sale at $1.62 million after failing to sell after an Expression of Interest campaign that closed in mid-November. Built by former football identity Sam Newman in 2000, the distinctive property in Canterbury Road and at the suburb border of Middle Park includes a faint close-up image of the Baywatch star, within its three-level glass façade. [...]
 Sydney-based developer EG Funds Management has lodged plans to replace a rundown Kensington wool store (pictured, right) with a major residential village. The 110-year old historic building, next door to flour processing plant Allied Mills, whose factory is prominent to commuters taking the Bolte Bridge, is expected to be retained in any redevelopment. EG is seeking to build at least one tower, rising up to 12 levels, on its site, according to The Age which reported the development application that has been rejected by council. [...]
 THE biggest shopping centre in the southern hemisphere is about to undergo its highest profile redevelopment, some 51 years after it opened (pictured, right). The owners of the complex now known as Chadstone – The Fashion Capital, are negotiating with the Stonnington City Council to build two glass skyscrapers, each of about 12 levels, at the easternmost edge of the complex near Dandenong Road. If approved, one tower will accommodate a hotel, and the other, an office. [...]
 THE biggest shopping centre in the southern hemisphere is about to undergo its highest profile redevelopment, some 51 years after it opened. The owners of the complex now known as Chadstone – The Fashion Capital, are negotiating with the Stonnington City Council to build two glass skyscrapers, each of about 12 levels, at the easternmost edge of the complex near Dandenong Road. If approved, one tower will accommodate a hotel, and the other, an office. [...]
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