|
|
THE National Museum and State Library buildings could be overshadowed by a 36-level skyscraper proposed for a Russell Street site, opposite the eastern most edge of the historic complex. The Melbourne City Council says it is reviewing an application which would see the 42-year old Rido House building at 276 – 284 Russell Street, on the south-east corner of Little Lonsdale Street, demolished and replaced with a 117 metre tower of shops, offices and flats. Unusually, the proposal doesn’t allow for car park bays, suggesting the 154-unit residential component might be better suited (and more easily marketable) as serviced apartments, student accommodation, or both. [...]
MELBOURNE’s next hospital and major medical clinic will be developed by the private sector in Hawthorn. The City of Boroondara council has issued a permit allowing for the former VECCHI building at 50 Burwood Road to be converted from offices into a 40-bed hospital, and associated medical centre allowing up to 15 practitioners. Sydney-based Healthbridge, a health based fund of manager Ironbridge, outmuscled several residential property developers to buy the prominent Hawthorn site for $17.1 million in April. It struck a deal to relocate the office tenants that were still based at the office, while pushing its conversion plans with council. [...]
AFTER failing to sell for more than a year, a massive Williamstown development site with a catch will be auctioned next month. The former Williamstown gasometer site at 87 – 93 Stevedore Street is expected to attract interest from residential developers who would need to remediate the site and have it rezoned, before undertaking a redevelopment. Measuring 3600 square metres, the property is expected to fetch some $3 million when it is put to auction at 2pm on Wednesday September 29, in a campaign being managed by Century 21 Wilson Pride Prahran’s David Lowenstein. [...]
A MAJOR development site offloaded by the State Government six years ago for $2.8 million, has hit the market again, and is expected to sell for almost twice that amount. The former Box Hill dog pound at the south-east corner of Canterbury Road and Hay Street is being offloaded by retirement village operators, who have decided against building a major 76-unit aged care facility on the site. The block will be sold with two permits – allowing for an aged care redevelopment, or a more medium density traditional residential development with ground floor shops. [...]
GONE are the days when St Kilda Road complexes were limited to about 12 levels. With the sky now the limit in regard to residential development in Melbourne – the value of a low rise office, with three street frontages at 472 – 474 St Kilda Road has ballooned over the past four years. Sources say Industry Superannuation Property Trust has entered advanced negotiations with an as-yet-undisclosed residential developer, to sell the Clemenger BBDO House building for about $37.5 million. ISPT paid $29.6 million for the asset in October 2006. [...]
MELBOURNE’s biggest residential development site, measured by area, was quietly relisted for sale this week. After failing to sell last year, the private families that control a 555 hectare block of land at 65 – 453 Hopkins Street, in Truganina, are trying their luck in a more buoyant market. The land is near the new Western Freeway extension (known during construction as the Deer Park Bypass), which opened last year, and marries into the Western Highway at the suburb border of Caroline Springs, Ravenhall and Rockbank. [...]
A PAKENHAM development site until recently earmarked to become a school has hit the market, and is likely to become a shopping centre-based mixed use village. The Sale Diocese of the Catholic Church is offloading the prominent 6.7 hectare site, with street frontage to Princes Highway, Thewlis and Mulcahy roads, near the Pakenham town centre. The property abuts the Worthington housing estate and is near the suburb border of Officer – which, like Pakenham, is seeing increasing residential redevelopment. [...]
|
|
|