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 ANOTHER chunk of former industrial land in Kensington is on track to being replaced with apartments. At 1-89 Hobsons Road, abutting the Maribyrnong River, and between the train line and Lynch’s Bridge, five hectares of land belonging to six separate owners has been rezoned to allow for mixed-use redevelopment. The land is diagonally opposite a 15-hectare Footscray parcel across the Maribyrnong River known as the Joseph Road precinct, which has recently been earmarked for intense apartment development. [...]
 A PROBLEMATIC city development site with a permit sold after auction on Thursday for an as-yet undisclosed price. The 556 – 560 Flinders Street property, at the north-west corner of Downie Street, has been earmarked over the years for a variety of developments, of varying heights. At one stage a scheme was prepared for a 33-level commercial tower with 25-levels of strata office suites. Another proposal would have seen 101 apartments squeezed onto the 291 square metre block, opposite the new Northbank Place complex, between Spencer and King streets. [...]
A DONCASTER development site has been put up for sale only weeks after the owner secured a permit to build a seven-storey building with 28 apartments and two levels of carparking. The 1465 sq m site at 86-88 Tram Rd is being sold through an expressions-of-interest process closing on June 16. [...]
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. [...]
DOCKLANDS next major skyscraper should start appearing on city skylines later this year. Sydney-based developer Mirvac has just started construction of its latest waterfront apartment tower, Yarra Point, on the corner of Lorimer Street and Point Piper Crescent. Upon completion in 2013, the $200 million tower will soar 31-levels and include 201 flats. When the project was launched last October, entry level apartments started at a staggering $500,000. Four bedroom “sky residences” have fetched $2.5 million. [...]
WHILE attention has focussed recently on the New Delhi Commonwealth Games Village site, builder LU Simon has been refitting part of the 2006 former Melbourne village into a luxury retirement living complex. The $23 million redevelopment has seen the Parkville site, at Cade Way rebuilt as Mercy Place Apartments a high end development with 52 units configured as one, two and three bedroom flats. Residents must be 65 years or older to buy into Mercy Place Apartments. The complex includes an internet kiosk and rooftop entertaining and function room with a city skyline backdrop. [...]
ONE of Melbourne Dockland’s most prominent, but undeveloped sites, will be converted into a Bunnings store. The Wesfarmers subsidiary will pay the owner of 263 – 313 Spencer Street rent, to convert the 10,400 square metre building into a Bunnings. The site sits between thousands of apartments, recently developed or under construction around the Docklands-CBD border. The deal is part of a $400 million expansion by Bunnings across Australia and New Zealand, according to the AFR which reported the Docklands lease. [...]
ANOTHER suburban post office is being redeveloped into flats. This time, in Melbourne’s east, the former Ashburton Post Office at 218 High Street will be replaced with a four-level apartment building. One bedroom units start at $349,950 – or about the same price as a house on land in the suburb in the late 1990s. Castran Gilbert selling agents Michael Lang and David Howard say the apartments include reverse cycle heating and cooling, and full security basement car accommodation with direct lift access. [...]
SYDNEY-based developer Mirvac will launch its sixth Docklands skyscraper, Yarra Point, in October. Mirvac will adopt a design strategy used at its Tower 5 complex nearby, and the Melburnian, in St Kilda Road, by targeting top-end buyers with a high quality product. This is reflected in the sale price, where one-bedroom flats are expected to be priced from $500,000. The distinctive $200 million tower, 31-level tower will include 201 apartments in one, two and three bedroom configurations. Yarra Point will include a rooftop garden, communal barbecue facilities and a gym atop a fifth level podium. [...]
SYDNEY-based developer Mirvac will launch its sixth Docklands skyscraper, Yarra Point, in October. Mirvac will adopt a design strategy used at its Tower 5 complex nearby, and the Melburnian, in St Kilda Road, by targeting top-end buyers with a high quality product. This is reflected in the sale price, where one-bedroom flats are expected to be priced from $500,000. The distinctive $200 million tower, 31-level tower will include 201 apartments in one, two and three bedroom configurations. Yarra Point will include a rooftop garden, communal barbecue facilities and a gym atop a fifth level podium. At its entrance, Mirvac’s new tower will include a double-storey lobby with mature trees, a garden of succulent plantings and bluestone pavings that extends into the building from the adjacent, one-hectare Point Park. [...]
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