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Richmond Silos to go After Sale to High Rise Builder

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Saturday, 13 December 2014 14:53

Richmond’s famous silos will be torn down and the heritage protected Nylex sign reattached to the top of a taller apartment building as part of a $600 million mixed use project which will reinvent the Melbourne riverside precinct known as Cremorne.

Local developer Caydon is paying a speculated $38 million for the Richmond silos site which is next door to another block of land it has owned for years, once occupied by Beaver Plastics.

The silos purchase brings Caydon’s holding to an impressive 1.6 hectares and worth an estimated $100 million.


Stockland Buys Former Ivanhoe School From City of Banyule Council

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Friday, 31 October 2014 09:15


SYDNEY developer Stockland is believed to be paying the City of Banyule council about $22 million for a former school site in Melbourne's north east Ivanhoe.

The 1.95 hectare block is now expected to make way for a townhouse project. Stockland's announcement about the purchase released on October 30, 2014, is below. More interesting is the capital gain the council has made onselling the sites after permitting a residential redevelopment, as reported in The Age here:

Council acquired the Ivanhoe school from the state government as part of a $23 million portfolio purchase. It has now turned a profit onselling two of them (one sold mid year to Metricon for $16 million). Council has offered to sell part of a third school back to the state government after the November election.




Grocon Sells 6600 sqm Slice of ex-CUB Site, Carlton, For $60 Million

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Monday, 29 September 2014 01:30

DEVELOPER Grocon has reaped $60 million selling a 6600 square metre piece of a 1.6 hectare Carlton asset it bought from RMIT for $39 million in 2007.

An as-yet-unnamed Chinese developer is expected to replace the block with more than one skyscraper. Grocon listed the parcel, within the former Carlton & United Brewery, without a permit.

The parcel has frontage to Queensbridge and Bouverie streets and is opposite another two blocks Grocon sold to Singapore developer Chip Eng Seng for $32 milion last year.


Baillieu Family to Pocket Hundreds of Millions From 5000-ha Western Suburb Land Sell-Off, Melbourne

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Sunday, 28 September 2014 12:51

THE establishment Baillieu family can expect to pocket "hundreds of millions" from the sale of 4953 hectares of land near the Eynesbury estate (which they also owned), about 37 kilometres west of the Melbourne CBD - but first home owners who recently bought in the burgeoning surrounding suburbs may be losers from the monstrous listing.

The family has an interest in the Woodhouse Pastoral Company via a trust established by family patriarch William Lawrence Baillieu, who amassed a property fortune in the 1880s land boom.

Woodhouse's site spreads across suburbs known as Eynesbury and Parwan, near the established township of Melton, which until only recently, has been considered a Melbourne satellite city.


Developer Buys Nunawading Brickworks Site For $21.7 Million

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Friday, 08 November 2013 07:21

A 4.9 hectare Nunawading supersite known as the former Daniel Robertson Brickworks property, has sold to residential builder AusGroup Property and Development for $21.7 million.

The property at 56-74 Station Street, privately owned by the Robertson family since 1928, is at the western edge of Nunawading’s light industrial precinct – close to Mount Pleasant Road, a quiet residential street.

The largely vacant former brickwoks site is also opposite a Nunawading train station car park about 19 kilometres east of the CBD. The land is expected to make way for a townhouses and apartment project with an end value of more than $200 million.



Richmond Office Building Sells For $24.25 Million

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Wednesday, 18 September 2013 23:13

Melbourne developer George Saade has sold a near-new five-level office building at 543 Bridge Road, Richmond, for $24.25 million.

The 4668 square metre office, developed in 2008, was fully leased and returning $1.85 million in annual rent. On that basis it sold on a yield of 7.6 per cent.

The black glass office is leased to seven tenants including ANZ, Kathmandu, Avant Insurance and Elite Sports Properties.


DKLS Sells 472 Bourke Street, Melbourne, For $15 Million

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Monday, 09 September 2013 23:14

DKLS today announced to the Malaysia stock exchange the $15 million disposal of a Melbourne CBD asset.

The Equity Chambers building at 472 Bourke Street was developed on the site of Melbourne's first synagogue.

DKLS bought the asset as an investment, letting a lucrative redevelopment permit lapse, despite contracts of sale being in place for many of the hundreds of proposed apartments.

The 5228 square metre, six-level office building with a large car park occupies a 1162 square metre block. Savills Clinton Baxter and Nick Peden were the marketing agents.

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