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 A SLIVER of Southbank land, about the same size as would accommodate a standard inner-city terrace house, has sold for $1.23 million because of its redevelopment potential. The 168 square metre site at 11-13 Hancock Street sold at auction this week before 45 observers. Savills directors Nick Peden and Clinton Baxter represented the vendors who constructed a workshop on the site in the 1940s. The block is some 900 metres from the CBD, between the Crown Casino and Clarendon Street shopping strip. Sold with vacant possession, it is expected to make way for an apartment complex. Savills directors Nick Peden and Clinton Baxter were the marketing agents. [...]
 THE private syndicate that repositioned Bentleigh’s Transformers nightclub into a profitable mixed-use complex, is selling up. At the Moorabbin Junction, on the north-east corner of the Nepean Highway and South Road, the five-level building includes 346 car park bays, and almost 12,000 square metres of office and retail space, leased to a variety of tenants. The vendors paid $28 million for the building in June 2006, re-committing government tenant Centrelink to about 6000 square metres, and filling the balance of vacant space. Previous tenants in the building included the Nepean Hotel and Wax Nightclub. [...]
 RECEIVERS for the owners of a versatile 555-hectare Truganina property, the largest asset measured by area to hit the market last year, are selling down the property in smaller chunks. After failing to sell for a total $100 million in separate campaigns in 2010, and 2011, four industrial development sites, each measuring about 42 hectares are now for sale, in a campaign being managed by Biggin Scott Commercial’s Andrew Egan and Frank Nagle. Accessed via Hopkins Road, the blocks are expected to sell for about $3 million each. [...]
 SOME of Melbourne’s most influential businessmen, including active Liberal Party supporters, have defeated a developer’s plan to build a 29-level skyscraper which would have blocked Port Phillip Bay views enjoyed from apartments they own or occupy in a prestigious complex next-door. New images affecting a site at 35 Albert Road, and to be marketed as The Emerald, Melbourne, show a 19-level, 282 unit residential project (pictured, above), which will rise no higher than 60 metres. The proposal replaces a higher density, 420-unit application (pictured, above, right) which was the subject of a high profile development dispute in 2010. [...]
 MONASH City Council has sold a spectacularly located development site opposite the Huntingdale Golf Club to a developer for $3.76 million. The 6712 square metre, Residential 1 zoned block at 1213 – 1217 Centre Road on the north-east corner of Huntingdale Road, in Oakleigh South, was until recently known as the Clarinda Centre For The Aged. Next door to a former quarry, the site is expected to make way for a medium density apartment project, but was not sold with a permit. [...]
 OPEN Universities Australia is selling its former head office, which was also the scene of the 1976 Great Bookie Robbery. The online tertiary education facility can expect to make about $4.4 million for its strata office, which includes levels one and two of the historic 131 Queen Street building. Connected by an internal staircase, and with a restored grand boardroom, each level measures 675 square metres. For years the building was owned and occupied by the Victoria Club. DTZ agent Craig Hembrow said the robbery was perpetrated in the former Club boardroom on the first level (pictured). [...]
 A PROMINENT Camberwell development site opposite the suburb’s Town Hall and until recently earmarked to become a $50 million office building, has sold for $7.7 million to residential developer, Trenerry Property Group. The site at 347 Camberwell Road, north-west of the busy Camberwell Junction, sold with a permit for a four-level, 8277 square metre office. However given the recent success apartment projects in the area recently, including Aerial at the Camberwell Junction, the vendor, local developer CGA Bryson, was pursuing another permit for a residential based project with just 1000 square metres of office space, and 112 flats. [...]
 PART of the Stoningon mansion estate in Malvern, which was once the Governor General’s residence and which many Melburnians believe should never have fallen into private hands, is being sold-down by its Chinese developer owners. Two subdivided suburban sized blocks within the former estate, which the state government effectively gave to Deakin University in the 1990s, and the university sold five years ago, are expected to fetch a combined $4 million, according to sources. Totaling 1344 square metres the blocks (a small part on the much larger marked out area, pictured) are for sale with permits for apartment complexes. But they are also being marketed to prestige buyers who might consider building just one home on the land. [...]
 PLANS are afoot to redevelop a prominent former Church abutting the Coburg train station. At 146 Bell Street, Coburg, the triangle-shaped site is near the corner of Sydney Road, the Pentridge Village redevelopment, and several council-owned sites which form part of the $1 billion Coburg Initiative, one of the largest urban renewal projects outside of central Melbourne. A council spokesman said the Coburg Initiative will still take place despite the ending of a joint venture agreement with local developer Equiset last year. The project may have included sinking the Coburg train station opposite 146 Bell Street to develop a new apartment-based village above. [...]
 ONE of Brunswick East’s biggest developments will take place behind wire gates, after planning minister Matthew Guy approved a $271 million expansion of SP Ausnet’s Brunswick Terminal Station, at the T-intersection of Glenlyon Road and King Street. The application for the site, which abuts the Merri Creek and is near the suburb border of Fitzroy North and Northcote, was to have been decided by the Victorian Civil and Administrative Tribunal after the Moreland City Council rejected the proposal last November. [...]
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