|
|
 SIXTEEN months after it first hit the market, the outgoing Pakenham Racecourse and Showgrounds site is believed to have found a buyer. Well placed industry sources say the vendor, the Pakenham Racing Club, is set to pocket about $30 million from the sale of the 25.85 hectare property, which abuts the Pakenham train station, about 55 kilometres south-east of town. The estimated sale price is far less than the reported $38 million developer The Corcoris Group agreed to pay for the site early last year, before withdrawing from the transaction in September. [...]
The Australian Property Growth Fund is expected to reap about $30 million, sources say, for a large Richmond office building which is occupied as offices for Solomon-Lew backed retailer Country Road. Part of a business park at 658 Church Street, near the Yarra River and South Yarra border, the Country Road headquarters is visible to Citylink commuters around Richmond. Colliers International director Peter Bremner is marketing the Richmond property, a former electrical substation, with Dawkins Occhiuto’s Andrew Dawkins and Walter Occhiuto. [...]
 SYDNEY based fund manager Charter Hall has paid $32.5 million for the Lansell Plaza near Bendigo in regional Victoria. The purchase, from the Centro Group is expected to settle at the end of January. According to the AFR which reported the deal, the shopping centre (black and white image from the National Gallery of Victoria) reportedly sold on a yield of 9 per cent. [...]
 SYDNEY based fund manager Charter Hall has paid $32.5 million for the Lansell Plaza near Bendigo in regional Victoria. The purchase, from the Centro Group is expected to settle at the end of January. According to the AFR which reported the deal, the shopping centre (black and white image from the National Gallery of Victoria) reportedly sold on a yield of 9 per cent. [...]
 THE Ascot Vale home where underworld figure Desmond “Tuppence” Moran was nearly killed sold at auction this weekend for $1.105 million. The Langs Road home, opposite the northern boundary of the Flemington Racecourse and near the Flemington suburb border, is on a super-sized 1020 square metre block, and includes a historic large home with postcard Melbourne CBD skyline views. It is not known whether the new owner will restore the salmon pink home, or replace it with a newer home. [...]
 THE biggest shopping centre in the southern hemisphere is about to undergo its highest profile redevelopment, some 51 years after it opened (pictured, right). The owners of the complex now known as Chadstone – The Fashion Capital, are negotiating with the Stonnington City Council to build two glass skyscrapers, each of about 12 levels, at the easternmost edge of the complex near Dandenong Road. If approved, one tower will accommodate a hotel, and the other, an office. [...]
 THE biggest shopping centre in the southern hemisphere is about to undergo its highest profile redevelopment, some 51 years after it opened. The owners of the complex now known as Chadstone – The Fashion Capital, are negotiating with the Stonnington City Council to build two glass skyscrapers, each of about 12 levels, at the easternmost edge of the complex near Dandenong Road. If approved, one tower will accommodate a hotel, and the other, an office. [...]
 AFTER retaining it for five years, the Australian Unity Investments’ Healthcare Property Trust has sold an inner-city medical complex in a prime residential area to a syndicate of private investors. The Victoria House Medical Centre and Victoria Clinic complexes at 314 – 324 Malvern Road in Prahran (pictured, right) sold for $18.7 million, reflecting a yield of 8.3 per cent based on the asset’s annual rental income of $1.55 million. Australian Unity paid $17.53 million for the Residential 1 zoned asset in 2006, on a yield of 7.8 per cent. [...]
 PLANS for a $150 million-plus apartment-based village with towers rising up to eight levels are one step closer, in St Albans, about 18 west of Melbourne. Following the newly released St Albans Centre Structure Plan 2025, the Brimbank City Council is set to rezone what agents call the lPLANS for a $150 million-plus apartment-based village with towers rising up to eight levels are one step closer, in St Albans, about 18 west of Melbourne. Following the newly released St Albans Centre Structure Plan 2025, the Brimbank City Council is set to rezone what agents call the largest single land holding in the suburb, a move which will pave the way for a residential-based rebuild. The site, a 6.8 hectare factory with an address of 3 McKechnie Street is currently a collection of seven separate offices, warehouses and factories offering 8427 square metres of building area. A rezoning from Industrial 3 to Residential and Mixed Use allows high density apartment towers to be developed along McKechnie Street, near a Victoria University campus. Near the St Albans train station, the site is also close to the Cairnlea suburb border. Cairnlea and neighbouring Deer Park have rampantly been redeveloped as housing estates over the past 20 years. The industrial site has now been listed for sale by its owner-occupier, Krueger Transport Equipment. Colliers International selling agent Shane Dargue, who is marketing the property with Glyn Bosisto of Raine and Horne, said the site is being offered with vacant possession, or with a leaseback up to two years. A council rezoning is expected to take between 12 and 24 months. Krueger is expected to reap about $15 million from the St Albans site sale. [...]
 SUMMER 2012 may be the last time revelers can enjoy a drink and picnic outside a popular St Kilda Road hang-out. Developer Hudson Conway, headed by billionaire businessman Lloyd Williams has quietly relisted for sale a major development site at 557 St Kilda Road on the north-east corner of Moubray Street. In 2007, and during what were much more buoyant times in the residential development site sector, Stockland paid Vision Australia $28.3 million for the site, until recently one of the biggest land parcels in the tree-lined street. [...]
|
|
|
