My Melbourne Real Estate

ONE of the northern suburb’s most controversial residential development sites has sold for $6.7 million. The vacant AMF Northcote Bowl complex at 166 – 174 Victoria Street, on the north-east corner of Separation Street, was listed for sale by Hong Kong based conglomerate Far East Consortium last October. It paid Macquarie $5 million for the 4716 square metre site in early 2009, and shortly after, convinced VCAT to approve a permit which would see the distinctive centre demolished and replaced with 73 flats and 18 townhouses. One of the proposal’s criticisms was that the busy intersection, with thin roads, would be even more overrun with cars. Others argue the site’s previous use as a bowling centre would have contributed somewhat to the traffic in the area. [...]