Boutique home builder Gilpip Bayside Projects Pty Ltd has paid about $10 million for the St Macartan’s Primary School, in a ripe-for-redevelopment pocket near the beach and central Mornington.

MP Real Estate founder Steven Oates has pocketed $3 million from the sale of his Red Hill South retreat, Kilinor.

The Portsea Caravan Park – local eyesore turned major residential development site - is to become a luxury townhouse project, under plans by its new owner Bourskope.

Australia’s biggest medical centre is to be developed in the Melbourne 2030 “transit city” of Epping, about 21 kilometres north of the CBD.

Billionaires Solomon Lew, John Gandel and David Hains will be joined by a new neighbour in July after an apartment in the tightly held Santosa building – wedged between their respective Toorak mansions – sold last weekend for $1.41 million.