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Wednesday, 20 July 2011 00:00 |
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 RECEIVERS KordaMentha have recovered just over $8 million from the sale of a multi-level car park near Melbourne Airport.
The four-level commercial complex at 5 South Centre Road (pictured, right) and near the junction of Keilor Park Drive and Sharps Road, sits on a 5217 square metre block and includes about 650 car spaces within 20,000 square metres of enclosed area.
Based on the sale price, each car park bays sold for about $12,300.
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Saturday, 23 July 2011 00:00 |
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 THE Royal Automobile Club of Victoria is some $2 million richer, after selling a 9711 square metre development site in Frankston South (pictured, right).
The undeveloped block at 6 Robinsons Road sold to an investor, and is expected to make way for a residential redevelopment in the medium to long term.
The asset derives annual rent of $110,000 from leases to five telecommunication companies. It’s next door to the Village Baxter retirement village and a caravan park and is close to what will be an onramp to the $759 million Peninsula Link freeway, which is under construction.
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Tuesday, 19 July 2011 00:00 |
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 SOUTH Yarra based developer R.Corporation has acquired another prime-located residential development sites that its rivals might have avoided.
This time, at 29 Hampstead Road in Maidstone - overlooking the Maribyrnong Detention Centre - the builder has paid government monopoly Australia Post almost $11.5 million for a two hectare property until recently used as a sorting and distribution centre.
R.Corporation – which once employed bikini model Jodhi Meares to market a high end apartment project it was building on the former “Prahran Destructor” tip and incinerator site in South Yarra – is expected to build a $100 million village at its new Maidstone site which has four street frontages.
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Tuesday, 12 July 2011 00:00 |
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  AN OPPORTUNITY has arisen for prime minister Julia Gillard to double the size of her humble Altona estate – or at least get an idea of how prices in the area are faring.
A home in Delmont Avenue, and adjacent to Ms Gillard’s back fence, has been listed for sale asking between $550,000 and $600,000.
The South Australia raised Gillard paid $140,000 for her Altona home (pictured, right) in 1998 – the year she was elected to represent residents in the safe ALP seat of Lalor where Altona sits.
Ms Gillard's property portfolio also includes a flat in the Canberra suburb of Kingston, which was her ACT base before moving to The Lodge last September.
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Friday, 24 June 2011 00:00 |
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 SOON, Melbourne’s eyesore commission flat towers might not be the tallest buildings within their suburbs.
Far from being daunted by new planning minister Matthew Guy shredding of the Brumby government’s problematic Melbourne 2030 planning policy (which he argued in Opposition treated metropolitan Melbourne like one giant development zone), residential developers are still proposing big, bold buildings. This is despite Melbourne planning being a relative state of limbo until a new planning strategy is formulated.
This time, in Magpie land and near the Victoria Park stadium (pictured) and train station, a proposal has been lodged to build a 204-unit residential village with ground floor shops and a 17-level tower.
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Thursday, 10 March 2011 00:00 |
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 RECEIVERS McGrath Nicol has been appointed to seize control of a major, high profile resort developed by two major, high profile property institutions.
Suncorp Bank is seeking that a $43 million line of credit be repaid by Viridian Noosa Pty Ltd.
Viridian controls a $300 million resort by the same name, and operated by Outrigger. Leighton Properties and Macquarie Real Estate developed the five star resort which was completed last year.
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Wednesday, 09 March 2011 00:00 |
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 SOUTH Australia's Masonic Homes is continuing its push into residential development, announcing a plan to spend $6 million adding more units to a senior housing project.
The investment affects the Ridgehaven Rise Seniors Living Community business. It's part of a plan by Masonic to invest $30 million this financial year on new development sites.
The company recently announced it had acquired residential development sites at Roseworthy, in South Australia and Palmerston in the Northern Territory, according to the AFR.
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