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May 2012
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Residential Developer Buys Camberwell Site Until Recently Earmarked to Become Offices

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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. [...]

Construction of Camberwell Station Village Delayed, Melbourne

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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. [...]

Toorak Road Suburban Office Sells For $10.14 Million

A LOW-rise office building at the suburb border of Camberwell and Glen Iris has sold to a private investor for $10.14 million. The 990 Toorak Road office is leased to ASX listed groups National Australia Bank and Uniliver. Based on the annual rental return of $856,048, the building sold on a yield of 8.44 per cent. [...]