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Written by Marc Pallisco
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Monday, 24 May 2010 01:08 |
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 ST KILDA properties that previously accommodated two of the area’s most established local businesses have sold to a developer.
The single-level Vasiliki lobster crayfish site, and an adjoining two level building which for years traded as Earl’s Hardware, will be cleared to make way for a new $50 million-plus luxury apartment project, with ground floor retail.
The buildings are spread across two properties between 173 – 177 Barkly Street, at the corner of Belford Street – which is one of just two roads that intersect with the popular Acland Street retail strip nearby.
It’s believed the 1000 square metre development site sold to a local builder for about $7.5 million.
Beller Commercial’s Fred Nucara and Andrew Fawell marketed the property with Gross Waddell’s Jonathon McCormack and Michael Gross but all declined to comment on any part of the deal.
It was put to the market with a permit for a five level, 84-unit serviced apartment complex but it’s understood the new owner will submit new plans, for a traditional “own your own” residential development.
Elsewhere in the area, developer Arno is replacing Acland Street’s former Greasy Joe’s restaurant with a distinctive building designed to look like liquid gold called The Face.
Arno is also responsible for a controversial mixed-use redevelopment of the Camberwell station, to be called The Place.
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