SHOPPERS at Canterbury’s quaint Maling Road shopping strip might find it harder to snare a car park, with a number of local, interstate and international developers set to swell in the area in coming weeks. A major 1708 square metre development site with a 57 metre frontage to Maling Road has hit the market and is expected to sell for about $4 million, and make way for a mixed use complex. The property is being offloaded by the second generation and retiring owner of the Bradshaws of Canterbury Auto Services workshop, which has operated from 87 – 101 Maling Road for 50 years. [...]
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FUND manager and developer Zig Inge Group is believed to have paid close to $18 million for a rundown but spectacularly located office investment at 199 Toorak Road in South Yarra. The blue, glass, four-level building with ground floor shops is at the north-east corner of Claremont Street and will be renovated, and slotted into Zig Inge Group’s Core Plus Portfolio. Zig Inge, which built its business developing retirement villages, outmuscled several high-rise residential developers for the 199 Toorak Road site, which measures 1689 square metres. An adjoining site at 2 – 4 Claremont Street, measuring 908 metres was listed for sale with 199 Toorak Road, but after failing to attract interest as a whole – was sold separately after auction for a speculated $6.5 million. [...] DEVELOPERS and land owners are rubbing their hands with excitement at the prospect of a roundabout being developed at the Avenue of Honour in Bacchus Marsh, north-west of Melbourne. Large tracts of used and disused farmland in the pockets around the proposed new road – including around Hopetoun Park, Parwan and Pentland Hills – are expected to be redeveloped as housing estates in coming years. Tenders closed for one such site this week: the massive 168 hectare Underbank Stud Farm. [...] THE Youth Hostels Association of Victoria is offloading a 56-room backpacker hostel at 76 Chapman Street, in North Melbourne. The existing three-level building is expected to arouse interest from developers who may propose a higher density project for the 1023 square metre site, possibly with a component of public housing. Alternatively, according to Teska Carson director Larry Takis, the existing building could be reconfigured into standard “own your own” apartments, and then onsold. [...] |
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