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Thursday, 17 May 2012 00:00 |
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MELBOURNE Water can expect about $6.5 million from the sale of a development site on the corner of Colemans and Frankston-Dandenong roads in Dandenong South.
Being offered with vacant possession, the site is spread over 5.5 hectares and includes about 4000 square metres in building improvements. Knight Frank selling agents Martin Bourke, James Templeton and Adrian Garvey are marketing the site.
Last year Melbourne Water successfully rezoned two hectares of land abutting the Arthurs Seat State Park in Dromana in a move expected to see the site attract residential developers. |
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Wednesday, 16 May 2012 00:00 |
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 A PORTFOLIO of four Freedom petrol stations in Gippsland has sold for $7.6 million to United Petroleum, which will be an owner-occupier.
The most expensive asset, a 1812-square-metre station overlooking Western Port in San Remo, South Gippsland, sold for $3.59 million (image of pelicans at San Remo, right).
The other stations are in Churchill, Traralgon and Newborough.
In conjunction with these property sales, a 14-site retail network of Freedom Fuel stores also sold to United Petroleum for an undisclosed price.
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Wednesday, 16 May 2012 00:00 |
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 ANOTHER chunk of former industrial land in Kensington is on track to being replaced with apartments.
At 1-89 Hobsons Road, abutting the Maribyrnong River, and between the train line and Lynch's Bridge, five hectares of land belonging to six separate owners has been rezoned to allow for mixed-use redevelopment.
The land is diagonally opposite a 15-hectare Footscray parcel across the Maribyrnong River known as the Joseph Road precinct, which has recently been earmarked for intense apartment development.
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Monday, 14 May 2012 00:33 |
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 A LOCAL private investor has paid $10.75 million for a historic property at the south-west tip of the CBD.
The former Sir Charles Hotham Hotel (pictured, right), later rebranded the Hotham Private Hotel, and now the All Nations Backpackers, occupies sites at 2-8 Spencer Street and 566-580 Flinders Street, near the Yarra River.
On an 833-square-metre site, the property has been offered for sale at various stages over the years, but a lease expiring in 2018 is believed to have deterred residential developers.
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Tuesday, 15 May 2012 00:28 |
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 THE owners of a 26-hectare Phillip Island farm, until three years ago owned by AMP Capital Investors and earmarked to become a retirement village, have applied to Bass Coast Shire Council to remove the entire aged-care component of the proposal.
The owner of the site paid AMP a reported $8 million for the Ventnor Road block and a permit for a 184-lot residential subdivision.
A major aged-care complex and community facilities were required to be developed as part of that permit. However, the council will now decide on whether to issue a new permit resulting in the entire farm, about three kilometres south-west of the centre of Cowes, being subdivided into 304 standard residential lots.
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Monday, 14 May 2012 00:00 |
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 THE falling-out of two of Melbourne's biggest private developers will be played out publicly at the end of the month when agents auction a landmark city office building - on court orders.
The imminent sale of the former Ansett headquarters at 501 Swanston Street (pictured, right), for a price expected to surpass $50 million, is also fascinating those within the real estate industry for being likely to smash the record price paid for a CBD office at auction.
Interestingly, each of the co-owning vendors of the building, Vince Giuliano, head of PDG Corporation, and Mario Salvo, director of Salvo Property Group, is expected to bid for full control of the asset.
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Wednesday, 21 March 2012 00:14 |
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GLAXOSMITHKLINE has sold a 7.32 hectare portion of land behind its long-time Boronia headquarters, in Melbourne’s outer south-east.
GSK is now seeking to subdivide that portion, abutting the Dandenong Creek, from the prominent manufacturing facility at 1061 Mountain Highway which it will retain.
The battleaxe shape block GSK offered for sale has frontage to Kalman Drive, Mountain Highway and Colchester Road.
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