Victoria – Page 45 – realestatesource

Michael Schildberger

Auction of Journalists Canterbury Home Makes the News

August 11, 2010 Marc Pallisco Canterbury, prestige residential

THE family home of late broadcaster and reporter Michael Schildberger has been listed for sale.

The Canterbury home served Mr Schildberger and his family for 31 years, but is being sold after the respected journalist died in June of prostate cancer, aged 72.

Forging an impressive career which saw him climb from the Channel Nine publicity department into the newsroom, Mr Schildberger is most recognised for his role as the host and executive producer of A Current Affair, and other news shows, until the late 1970s.

Michael Schildberger

Auction of Journalists Canterbury Home Makes the News

August 11, 2010 Marc Pallisco Canterbury, prestige residential

THE family home of late broadcaster and reporter Michael Schildberger has been listed for sale.

The Canterbury home served Mr Schildberger and his family for 31 years, but is being sold after the respected journalist died in June of prostate cancer, aged 72.

Forging an impressive career which saw him climb from the Channel Nine publicity department into the newsroom, Mr Schildberger is most recognised for his role as the host and executive producer of A Current Affair, and other news shows, until the late 1970s.

Former Elwood Reception Centre Hits The Market

August 14, 2010 Marc Pallisco Elwood, Ormond Esplanade, prestige residential

HERE’s an open for inspection you might have already been to.

A huge Elwood property which operated for almost 40 years until about 1990 as the Fontainebleau Reception Rooms, has hit the market and is expected to sell for about $5 million.

Now a private home and simply called Fontainebleau, JP Dixon Brighton selling agent Nick Johnstone says the fully renovated four bedroom home, overlooking Point Ormond, could set a new price record for the waterfront suburb, between St Kilda and Brighton.

Alannah Hill Stitches $1.68 Million From St Kilda Apartment Sale

August 13, 2010 Marc Pallisco celebrity sale, Fitzroy Street, prestige residential, st kilda

FASHIONISTA Alannah Hill has stitched up $1.68 million from the sale of a three-level St Kilda apartment she bought in 2004 as an impulse buy.

The apartment is built into the walls of an 1888 mansion in trendy Fitzroy Street – a property previously a home to squatters, a brothel, and later a French Consulate.

With a double garage, three bedrooms, wine cellar and a rooftop garden with city views, the apartment was decorated in Ms Hill’s unique style.

Flinders Foreshore

Developer buys Flinders Caravan Park

August 11, 2010February 26, 2021 Marc Pallisco

Another winter and another coastal caravan park has sold to a builder. This time on the Mornington Peninsula, Flinders Caravan

Lower Plenty Block, Once Part of Bigger Estate, For Sale on Yarra River Banks

August 13, 2010 Marc Pallisco lower plenty

A RIVERFRONT block of land which was once part of an estate developed by the founders of Aspro – is for private sale.

Lot 11, at Yarra Hill Close, in Lower Plenty, is expected to sell for about $1.3 million.

Selling agent Tristan Messerle of Morrison Kleeman says the block is surrounded by Parks Victoria controlled bushland.

New Record Set in Lower Plenty, Melbourne

August 13, 2010 Marc Pallisco lower plenty, prestige residential

FOR the second time in a year, the record price for a home in Lower Plenty has been broken.

This time, in Beckett Court, a 4738 square metre estate with a tennis court, pool, spa, steam room, and 929 square metre mansion, sold for $3.6 million.

Morrison Kleeman director Rocco Montanaro said the sale price eclipses a record set last October, when a six-bedroom colonial style house on another massive block at 140 Bonds Road sold for $3.51 million.

View From The Patch

The Patch Home Built For Monbulk Jam Founders, Hits The Market

August 11, 2010 Marc Pallisco Dandenongs, The Patch

AN estate developed in the 1950s by the Camms family, of Monbulk Jam fame, has hit the market.

Chosen because of its commanding position, and exposure to the sun and surrounding valley, the Patch Road property, in The Patch, in Melbourne’s outer east, is expected to sell for between $575,000 and $635,000.

The original home, with art deco influences, has had some minor alterations over the years including ducted heating, air conditioning, a heated in-ground pool, and an entertainer’s deck.

Truganina site

UGB Changes Great For Truganina Sale Campaign

August 14, 2010 Marc Pallisco Melbourne Residential Development Site Sale, Truganina

THE timing of last week’s Urban Growth Boundary changes couldn’t have come at a better time for the syndicate of investors selling Melbourne’s biggest development site, measured by area.

The massive 555 hectare site at Truganina, in Melbourne’s west, is expected to sell for $100 million – after failing to sell for about that amount two years ago, at the start of the economic downturn, and before the site’s zoning future was confirmed.

“Under the rezoning the site will be a keystone property for the future development of Melbourne,” said CB Richard Ellis director Walter Occhiuto, who is selling the site with Tom Hayes, said.

Truganina site

UGB Changes Great For Truganina Sale Campaign

August 14, 2010 Marc Pallisco Melbourne Residential Development Site Sale, Truganina

THE timing of last week’s Urban Growth Boundary changes couldn’t have come at a better time for the syndicate of investors selling Melbourne’s biggest development site, measured by area.

The massive 555 hectare site at Truganina, in Melbourne’s west, is expected to sell for $100 million – after failing to sell for about that amount two years ago, at the start of the economic downturn, and before the site’s zoning future was confirmed.

“Under the rezoning the site will be a keystone property for the future development of Melbourne,” said CB Richard Ellis director Walter Occhiuto, who is selling the site with Tom Hayes, said.

Rooftop pool at 174 The Esplanade

Unlived in Waterfront Apartment, Penthouse, For Sale at $3.2 Million

August 11, 2010 Marc Pallisco brighton, Melbourne Prestige Residential

HONG Kong based company director Sheena Wong is selling a penthouse apartment on Brighton’s waterfront.

Apartment four at 174 The Esplanade, includes three bedrooms, a study, a large open plan living and dining area, two car spaces, and rooftop terrace with spa bath.

Refrigerators, ovens, the microwave and a coffee machine are built into the apartment’s Poliform kitchen.

The kitchen, like the adjoining lounge and dining room, captures postcard views over Port Phillip Bay.

Another Former St Kilda Rooming House to be Sold as Renovation Rescue

August 11, 2010 Marc Pallisco st kilda

A CENTURY old home in St Kilda’s ritzy St Leonard’s Avenue has hit the market for the first time since the 1960s.

Hocking Stuart St Kilda’s Kehren Eade is marketing the unrenovated, three-bedroom “farmhouse-style” home at #2, on behalf of former Melbourne University and RMIT Mathematics lecturer, John Forrester, who lives there with his son and daughter in law.

Mr Eade says the property was originally a rooming house like existing and now-demolished homes at #9, and 10 – 16 St Leonard’s Avenue

Another Former St Kilda Rooming House to be Sold as Renovation Rescue

August 11, 2010 Marc Pallisco st kilda

A CENTURY old home in St Kilda’s ritzy St Leonard’s Avenue has hit the market for the first time since the 1960s.

Hocking Stuart St Kilda’s Kehren Eade is marketing the unrenovated, three-bedroom “farmhouse-style” home at #2, on behalf of former Melbourne University and RMIT Mathematics lecturer, John Forrester, who lives there with his son and daughter in law.

Mr Eade says the property was originally a rooming house like existing and now-demolished homes at #9, and 10 – 16 St Leonard’s Avenue

One of a Handful of Dockland Terrace Homes Hits the Market With $5 Million Price Tag

August 11, 2010 Marc Pallisco Docklands, mirvac, Yarra's Edge

IF YOU like the idea of living at Docklands, but aren’t sold on moving to a high rise apartment – then one of a handful of terrace homes at Mirvac’s Yarra’s Edge precinct might be for you.

But with a price tag of about $5 million – the luxury of living at Yarra’s Edge’s only low-rise, strata free homes, is for a select few.

An associate director of Patersons Securities is selling a new four-level townhouse at South Wharf Drive, ahead of a move to Perth.

Beaumaris Pavilion

Becton Sells Beaumaris Pavilion Pub to Footballers

August 13, 2010 Marc Pallisco aged care, beaumaris, becton, hotel, Melbourne development site sale, pub

BECTON Property Group has finally offloaded the prominent Beaumaris Pavilion hotel and adjoining car park, in Melbourne’s south.

The East Melbourne-based developer is speculated to have made about $9 million from the sale of the waterfront site, which it bought for $11 million toward the peak of the commercial property market three years ago.

Becton had planned to develop a 65-unit aged care facility on the site, as part of a push into that sector.

First Major Development Site Within Melbourne’s Revised UGB Hits The Market

August 11, 2010 Marc Pallisco Melbourne Residential Development Site Sale, Tarneit

AND so the first of many development sites within the recently extended Urban Growth Boundary has hit the market, in Tarneit.

The 64 hectare farm – once known as Shanahans House, and later Wyndham Park – is expected to sell for about $25 to $30 million, sources say, and attract interest from “local, national and international residential developers”.

Jones Lang LaSalle said two upcoming infrastructure projects – including a new Tarneit train stations, and the Outer Metropolitan Ring Road – will contribute to council’s ambitions to boost Tarneit’s population by more than 21,000 by 2020.

Naughton’s Hotel, Parkville, For Lease

August 11, 2010 Marc Pallisco hotel, Parkville, pub, retail lease

IN another sign yuppies are replacing the student and working class-base that once defined Parkville and Carlton culture– the Naughton’s Hotel building is being offered for lease, targeting high-end tenants that can reposition the pub as a fancy restaurant.

Ending speculation the iconic Royal Parade pub would be rebuilt as student accommodation, as many other drinking holes in the area have – Alexander Robertson leasing agent Stephen Byrne instead said the building’s owner is seeking a long term operator.

Coincidentally Mr Byrne’s family operated Naughton’s for about 25 years. The building was last reported as selling to a private investor for $3.2 million in March 2006.

Penguin Books Reportedly Moving to Docklands, Melbourne

August 12, 2010 Marc Pallisco Docklands, Kuok Group, walker corporation

PENGUIN Books is understood to be in advanced negotiations to lease new offices in Melbourne’s inner west.

Sources say the publisher, which is currently based at 250 Camberwell Road, near the Camberwell Junction, will lease around 8000 square metres at the Kuok-Walker controlled Goods Shed South, in Docklands.

It was just nine years ago the publisher leased 5000 square metres in Camberwell, an office building developed by Morry Schwartz’s Pan Urban on leasehold land owned by the St John’s Anglican Church.

Macquarie Office Trust to Sell 71 Queens Road Office, Melbourne

August 13, 2010 Marc Pallisco macquarie, Melbourne Office Sale, Queens Road

MACQUARIE Office Trust is about to test drive the performance of the commercial property markets, listing for sale an office investment overlooking the challenging Schumacher and Piquet bends of the F1 Albert Park race track.

It was just three years ago, but toward the peak of the commercial property market, that MOT paid $26.26 million for the 11-level, 8400 square metre B-grade office previously known as the Zurich building.

Now known as SMEC House, 71 Queens Road is expected to sell this time around for about $23 million, sources say reflecting a yield of about 9.5 per cent based on the asset’s annual income of just over $2.2 million.

Colonial First State to Sell Slither of Shops Alongside Forest Hill Chase SC

August 12, 2010 Marc Pallisco Colonial First State, Forest Hill

COLONIAL First State is selling a suburban shopping strip, next door to its massive Forest Hill Chase Shopping Centre, in Melbourne’s east.

The 23 shops, configured predominantly as single storey buildings, are leased to a total of 26 tenants including ANZ, H&R Block and Taco Bill.

The shops will be sold separately, and are expected to sell on yields of between 3 and 4 per cent, according to Gross Waddell selling agent Tim Darcy.

Heritage Golf & Country Club, Melbourne, For Sale

August 11, 2010 Marc Pallisco Bend of Islands, Chirnside Park, golf course, Letten, mirvac

ANOTHER month and another campaign to sell golf course investment has teed off.

This time, in Melbourne’s east, administrators for the Letten Scheme are selling two golf courses, known as The Heritage Golf & Country Club and spread over two suburbs: Chirnside Park, and Bend of Islands.

Golf club members have a lease over the course assets, while Mirvac Hotels has managed the conference facilities, retreat, spea and resort facilities, since 2002.

Marsh Mercer Reportedly Moving to Melbourne’s Docklands

August 10, 2010 Marc Pallisco Docklands, Docklands office lease, Kuok Group, Melbourne Office Lease, walker corporation

ONE of the year’s biggest inner-city office lease deals is believed to be taking place in Docklands.

Its understood financial services giant Marsh Mercer will relocate from two CBD offices, at 555 Lonsdale Street, and 11 Exhibition Street, and move to a 23,000 square metre high-end office, in a pocket of Docklands controlled by the Kuok Group and Walker Corporation.

Marsh Mercer would be the latest in a string of financial services giants to relocate to Melbourne’s waterfront. ANZ and National Australia Bank are the two biggest tenants in the area.

Carlton North’s Paragon building for sale

August 10, 2010February 13, 2021 Marc Pallisco

Model turned restaurateur Janni Goss is selling a high-profile shop in Carlton North’s Rathdowne Village. The vendor can expect $2.7

Overseas Owner Occupier Pays Southern Cross Broadcasting $6 Million For its Outgoing South Melbourne Headquarters

August 10, 2010 Marc Pallisco Melbourne Inner City Office Sale, South Melbourne

AN OVERSEAS owner-occupier is believed to have paid Southern Cross Broadcasting a speculated $6 million for its outgoing office at 70 Park Street, in South Melbourne.

The vacant 1415 square metre building, on a 768 square metre block between Kings Way and St Kilda Road was put to the market after Southern Cross decided to relocate to the CBD.

With 21 car parks, the site was expected to find its way into the hands of a residential developer.

VicRoads Sells Thomastown Asset

August 11, 2010 Marc Pallisco Thomastown, VicRoads

VICROADS has reaped $2.57 million from the sale of a vacant 1.3 hectare property in Melbourne’s outer north. The Industrial

Asia Based Investor Buys Second Victorian Golf Course in a Month, Major Redevelopments Planned

July 19, 2010 Marc Pallisco Golf Course Sale, Hotel Site Sale, international investment, Mornington Peninsula, residential development site sale, St Andrews

FOR the second time this month, an Asia-based developer has purchased a prominent Victorian golf course, and is proposing to build a $55 million hotel, apartment-based complex and new 18-hole golf course, next door.

An as-yet-undisclosed syndicate, which will be part controlled locally, is understood to have paid more than $7 million for the massive St Andrews Beach Golf Course and Resort, on the Mornington Peninsula.

As well as the Gunnamatta course, a temporary club room and 20 apartments, the purchase includes an adjoining development site, which will yield another 18-hole course, club room, 40-room hotel, licensed commercial premises, and about 120 apartments.

474 St Kilda Road

ISPT sells St Kilda Rd office

July 18, 2010February 8, 2021 Marc Pallisco St Kilda Road

GONE are the days when St Kilda Road complexes were limited to about 12 levels.

With the sky now the limit in regard to residential development in Melbourne – the value of a low rise office, with three street frontages at 472 – 474 St Kilda Road has ballooned over the past four years.

Sources say Industry Superannuation Property Trust has entered advanced negotiations with an as-yet-undisclosed residential developer, to sell the Clemenger BBDO House building for about $37.5 million.

ISPT paid $29.6 million for the asset in October 2006.

Bradmans Handbag Building

Prominent Bourke Street Building Expected to Fetch $17 Million

July 19, 2010 Marc Pallisco Bourke Street Mall, Melbourne CBD

A WEEK after music promoter Michael Coppel reaped $15 million from the sale of an under-utilised commercial building at a prominent CBD intersection opposite the State Library of Victoria – and even higher profile “corner site” has hit the market.

The distinctive 1960s Bradman’s Handbags and Travel Goods building, at the north-west corner of Bourke and Swanston streets is expected to sell for about $17 million.

On land of 134 square metres, the four-level building, which is part of the Bourke Street Mall, cannot be demolished, but can be reconfigured, and possibly extended, by a new buyer, sources say.

Ascot Vale’s Laurel Hotel sells for $3.32m

July 23, 2010February 26, 2021 Marc Pallisco

Ascot Vale’s Laurel Hotel sold at auction on Thursday for $3.32 million. The Mount Alexander Road site spreads 1167 square

Melbourne Central

NBN Co to Have Neighbours in Luxury Melbourne Skyscraper

July 21, 2010 Marc Pallisco Federal Government, Melbourne CBD Office Lease, NBN Co

STAFF of the Federal Government’s divisive $43 billion National Broadband Network program – which earlier this year leased luxury offices in one of Melbourne’s few “Premium” grade office buildings – will soon have new neighbours.

ME Bank and Allianz Insurance have leased a combined 16,439 square metres at the landmark Melbourne Central tower, reportedly paying a rental of between $400 and $420 per square metre, per annum.

NBN Co is understood to be paying more than $500 per square, per annum for its space, in a deal reported by BusinessDay, earlier this year.

Madden’s Clayton Development One Step Closer

July 18, 2010 Marc Pallisco affordable housing, Clayton, commission flats, justin madden, Monash, public housing, social housing, VCAT

THE Monash City Council didn’t want it – but Planning Minister Justin Madden did – and now one of the south-eastern suburb’s biggest public-private housing developments is set to start construction soon, in Clayton.

After more than ten years of debate, a $270 million apartment-based complex will replace a low-rise shopping centre at the busy north-east corner of Dandenong and Blackburn roads.

Approximately 400 apartments will be developed as part of The Nova Centre redevelopment – many to accommodate public housing residents, and students. A hotel and shopping centre will also be built on the site.

Australian Red Cross Sells Southbank Carpark to Developers

July 19, 2010 Marc Pallisco Southbank

IT might have seemed like just another inner-city development site sale, but it’s actually the end of an era.

The Australian Red Cross has sold another major piece of land near its outgoing Southbank headquarters, now that it is based across town.

The charitable organisation made $5 million from the sale of the 1448 square metre site at 127 – 129 Kavanagh Street, which is expected to make way for apartments.

Grace Park House

Grace Park House sells for $9m

July 20, 2010February 22, 2021 Marc Pallisco

Melbourne Victory senior executive Richard Wilson is understood to have quietly sold one of Hawthorn’s most exclusive homes for about

Hawthorn East School Converted Into Prestige Street

July 19, 2010 Marc Pallisco hawthorn, prestige residential

HAWTHORN East’s former Preshil School site has re-opened as a small, new housing estate.

A spokeswoman for the Boroondara Council said a Plan of Subdivision was certified on July 9, in which Daniel Court replaces a site previously known as 462 – 466 Barker Road.

The planning application to replace the school with a new street was lodged in early 2006.

Daniel Court has eight blocks, ranging in area from about 550 square metres to just over 720 square metres.

EG to Redevelop Former Hedley Sutton Retirement Village, Canterbury

July 18, 2010 Marc Pallisco aged care, New Melbourne Apartment Complex, prestige residential

IT was described as the “best bargain development site” to sell during the economic downturn, and now builder EG Funds Management is ready to cash in.

The former Hedley Sutton Retirement Village, on the corner of Canterbury Road and Gascoyne Street, is being replaced with a medium density housing project, called The Canterbury.

EG paid Baptcare just $12.53 million for the 8161 square metre site in late 2008, at a particularly depressed time in the residential development site market.

Eastern Golf Course on Track to Sell to China Based Developers

July 12, 2010 Marc Pallisco Doncaster, eastern golf course, international investor

A CHINA-based developer is believed to be paying more than $100 million for what is the biggest development site put to the Melbourne market in recent years.

The offshore group is expected to be announced within weeks as the buyer of Doncaster’s massive 47 hectare Eastern Golf Course, about 15 kilometres east of town.

The 86-year old course is expected to be redeveloped into a $1 billion village of shops, offices, and apartments, after the club relocates to an as-yet-unbuilt development in about 2013.

Sale Diocese of the Catholic Church to Sell Pakenham Site, Once Earmarked For a School

July 12, 2010 Marc Pallisco church, Pakenham

A PAKENHAM development site until recently earmarked to become a school has hit the market, and is likely to become a shopping centre-based mixed use village.

The Sale Diocese of the Catholic Church is offloading the prominent 6.7 hectare site, with street frontage to Princes Highway, Thewlis and Mulcahy roads, near the Pakenham town centre.

The property abuts the Worthington housing estate and is near the suburb border of Officer – which, like Pakenham, is seeing increasing residential redevelopment.

Ronald McDonald

News Retail Victoria

McDonald’s set to develop prominent Ringwood site

July 13, 2010February 3, 2023 Marc Pallisco

AFTER picking up a prominent eastern suburb development site at a particularly depressed time in the property cycle last year, fast food chain McDonalds is readying to play property developer.

McDonalds is looking to replace part of a prominent former Patterson Cheney car dealership at 43 – 57 Maroondah Highway in Ringwood, with a 24-hour restaurant.

It paid about $15 million for the massive 16,380 square metre site, near the Maroondah Highway exit of Eastlink, almost a year ago.

Central Bendigo Buildings Relisted For Sale

July 13, 2010 Marc Pallisco Bendigo

TWO central Bendigo buildings that previously accommodated notable local businesses, have hit the market as development sites, again.

The City of Greater Bendigo has relisted for sale the former Bendigo Advertiser building, in Pall Mall, and the adjoining St Vincent De Paul building, in Hargreaves Street.

It’s hoped a new purchaser may redevelop the combined 2000 square metre site into a mixed use complex with a hotel, offices, and retail space including a restaurant and bar.

Maple Close Business Park, Richmond, Sells For $20 Million

July 14, 2010June 20, 2019 Marc Pallisco

LOCAL developers are believed to have paid about $20 million for an inner-city business park near the riverfront suburb border of Richmond and South Yarra.

Sources say prominent Richmond investors Michael Gannon and Gus Cooper have purchased the Maple Close complex, at 650 Church Street, from another private investor.

Currently configured as six low-rise buildings with a combined net lettable area of 6600 square metres, the complex is considered under-developed by today’s standards – especially seeing it has four street frontages.

Cheltenham Office Sells For $15 Million

July 13, 2010 Marc Pallisco Cheltenham, Melbourne suburban office sale

ONE of Cheltenham’s biggest office buildings, in a convenient location next door to the massive Westfield Southland shopping centre, has sold for about $15 million to a private investor.

Sydney-based syndicate GDI has offloaded the 4 – 10 Jamieson Street office it purchased for $13.5 million about three years ago.

The 5792 square metre building was one of several assets offloaded in 2007 by Henkell Brothers Investment Management, at what is now considered the peak of that property cycle.

Truganina site

555 Hectare Truganina Site, Melbourne, Relisted For Sale

July 15, 2010 Marc Pallisco Melbourne Residential Development Site Sale, Truganina

MELBOURNE’s biggest residential development site, measured by area, was quietly relisted for sale this week.

After failing to sell last year, the private families that control a 555 hectare block of land at 65 – 453 Hopkins Street, in Truganina, are trying their luck in a more buoyant market.

The land is near the new Western Freeway extension (known during construction as the Deer Park Bypass), which opened last year, and marries into the Western Highway at the suburb border of Caroline Springs, Ravenhall and Rockbank.

Auspac Buys Footscray Supersite

July 11, 2010 Marc Pallisco Auspac, footscray

AUSPAC Properties has created a supersite in Footscray, after paying $6.2 million for two properties, abutting another block it already owns.

Auspac’s purchase of two sites at 18 Hopkins Street, and 20 Moreland Street, gives the developer a massive chunk of the inner-western suburb, which has seen rampant development activity over the past five years – some even through the economic downturn.

Colliers International’s Jeremy Gruzewski, who marketed the site with Peter Bremner, said seven offers were receievd, from both established developers, and “new players”.

Letten receivers sell Flinders Lane building

July 11, 2010February 8, 2021 Marc Pallisco

RECEIVERS for the Letten Group have recovered $13.31 million from the sale of a historic Flinders Lane office and retail building.

Savills agents Clinton Baxter and Nick Peden sold 167 – 173 Flinders Lane at auction yesterday, in front of a crowd of some 250 people.

The property, on the south-west corner of Hosier Lane, was previously controlled by Mark Letten and celebrity health expert Dr John Tickel, who paid $3.67 million for the asset in September 2001.

Bill Guest lists former Thomastown showroom

July 12, 2010February 22, 2021 Marc Pallisco

Former Melbourne Football Club board member and founder of furniture retailer The Guest Group, Bill Guest, is selling a former

Kew’s Sholom Lodge Likely to be Melbourne’s Next Historic Home to be Demolished

July 15, 2010 Marc Pallisco kew, prestige residential

ANOTHER historic home in Melbourne’s ritzy east is set to be replaced with apartments.

The grand Kew home, currently known as Sholom Lodge and used as a 14-bed aged care facility, is being sold as a residential development site with a permit for 12 flats.

Sholom Lodge is near the busy roundabut of Princes Street, and the entrance to the Kew Cottages redevelopment, being undertaken by Sydney-based private developer Walker Corporation.

Malon Lodge, Prahran, Could Wind up in The Hands of Residential Developers

July 14, 2010 Marc Pallisco Caydon, prahran

A HUGE property in Prahran, Melbourne, listed for sale as an investment, could wind up in the hands of residential developers, cashing in on the current inner-city high density building boom.

The Malon Lodge in tree-lined The Avenue, is expected to sell for about $2 million.

Currently configured as a 24-room special accommodation home, O’Donoghues First National Camberwell’s Fred Barlett is selling Malon Lodge with a lease to the hospital operators until 2013, with renewal options.

More Farmers Become Millionaires As Government Needs Land For Housing

July 13, 2010 Marc Pallisco Eynesbury, Manor Lakes, Melton, Tarneit, Wyndham Vale

THE list of farmers who have become instant millionaires as a result of government planners needing land for housing, has grown.

This time, in the western suburb of Wyndham Vale, 35 kilometres from town, a private family has achieved a price of $6.5 million from the sale of its 12.1 hectare farm.

Wyndham Vale is in Melbourne’s first home buyer heartland. The farm, at the north-east corner of Ballan Road and Wollahra Rise, opposite the Manor Lakes Shopping Centre, is expected to be redeveloped into a major housing estate.

David Parkin to Sell Mothers House, Hawthorn

July 13, 2010 Marc Pallisco celebrity sale, hawthorn, prestige residential

AFL legend David Parkin, and his brother Des, a medical researcher, are selling the Hawthorn home that his belonged to the Parkin family for five generations.

The five-bedroom rendered bungalow at 39 Denham Street is located directly opposite St James Park where the Parkin boys perfected their football, cricket, and lawn bowling skills.

Currently configured as a three bedroom house, with formal and informal dining areas, the 1920s dwelling includes many original features such as a panelled entrance foyer, leadlights, open fire places, beamed ceilings and timber floors.

Salta Buys Residential Development Site in Congested Inner-City Precinct

July 13, 2010 Marc Pallisco Abbotsford, Hamton, richmond, salta, Salvo, Victoria Street

IN PEAK hour, in a car and behind the crammed trams – the retail strip that is Victoria Street, where Richmond meets Abbotsford can be one of the most congested roads in Melbourne to drive through.

And traffic is expected to move a bit slower in coming years, as more residents move to Victoria Street, in complexes being developed on the former Going Going Gone site, the Honeywell office site, and another property opposite the Victoria Gardens Shopping Centre, on the south-west corner of Burnley Street.

Mt Macedon’s Sefton for sale

July 11, 2010February 22, 2021 Marc Pallisco

Gribbles Pathology founder Wallace Cameron is selling Mount Macedon’s landmark Sefton. Built by William Lawrence Baillieu as a summer home,

Historic Harold Boot Company Factory, Abbotsford, Demolished For Commission Flats

July 12, 2010 Marc Pallisco Abbotsford, commission flats, Common Equity Housing Limited

YET to be replaced Federal Minister for Finance and Deregulation Lindsay Tanner may be moving out the marginal Melbourne electorate

Former QBH nightclub

Southbank’s Next Major Skyscraper on its Way

July 11, 2010 Marc Pallisco australand, Crown Casino, Eureka, Freshwater, New Melbourne Apartment, QBH, Schiavello, Southbank

NOTORIOUS nightclub QBH will be converted into a luxury display suite, for the Southbank riverfront’s next major apartment tower.

Last week, advertising started for the proposed 66-level, 616-unit Prima Pearl Apartment complex, at 31 – 49 Queensbridge Street.

The project is being proposed by furniture magnate and property developer Tony Schiavello, who recently paid $10 million for the QBH club, at 1 Queensbridge Street, near the Prima Pearl site.

The QBH property has direct Yarra River frontage – and as such, redevelopment potential down the track.

Ashwood Reception Centre Relisted For Sale as Development Site

July 11, 2010 Marc Pallisco Ashwood, Chadstone, Melbourne Residential Development Site

A SYNDICATE of private families that operated the popular Ashwood Reception Centre in Melbourne’s south-east, have shut the facility and are selling the complex as a residential development site.

Medium and large scale residential builders are expected to show an interest in the 4262 square metre site, which has street frontage to busy High Street Road, and the quieter Harold Street.

South Yarra’s Former Longford Cinema to Become Flats

July 1, 2010 Marc Pallisco New Melbourne Apartment Development, south yarra, toorak road

AND so the curtain closes on another Melbourne theatre.

The site of the former Longford cinema complex in South Yarra is set to be redeveloped into a major five-level, 36 unit apartment complex with ground floor shops.

One bedroom apartments in the high-end redevelopment start at $515,000 and include a car park, and storage room.

Prominent Prahran Commercial Property to be Redeveloped Into Apartments

June 30, 2010 Marc Pallisco chapel street, prahran, Windsor

CHAPEL Street wasn’t always about designer brands and snootily staffed cafes.

Up until five years ago, one remnant of the street’s working class origins – the massive three level furniture emporium once known as Horderns and later, Rabenault, traded proudly on the south-east corner of Chapel and High streets.

For a century the retailer would strap mattresses to its beautiful but at times derelict shopfront.

Avenue of Honour Part-Demolition Starts Local Development Site Sell Off Around Bacchus Marsh

June 28, 2010 Marc Pallisco Bacchus Marsh, government, Melbourne Residential Development Site Sale

DEVELOPERS and land owners are rubbing their hands with excitement at the prospect of a roundabout being developed at the Avenue of Honour in Bacchus Marsh, north-west of Melbourne.

Large tracts of used and disused farmland in the pockets around the proposed new road – including around Hopetoun Park, Parwan and Pentland Hills – are expected to be redeveloped as housing estates in coming years.

Tenders closed for one such site this week: the massive 168 hectare Underbank Stud Farm.

Ultra Tune Buys Strata Office in Stockland’s Tooronga Redevelopment

June 29, 2010 Marc Pallisco Glen Iris, Melbourne Strata Office, Stockland

DESPITE a job in which driving luxury cars is a perk, Ultra Tune boss Sean Buckley doesn’t want to travel for too long, to get to work.

Mr Buckley will relocate the company’s headquarters from Box Hill, to Glen Iris, after paying a speculated $2.4 million for a 400 square metre strata office suite, part of Stockland’s massive $500 million Tooronga Village redevelopment, about nine kilometres south-east of town.

Even though development at the Glen Iris site has been rampant in recent years, Stockland is only into the first redevelopment stage, of five.

Glenvill Homes Buys former Joshua Pitt Factory, Northcote

June 28, 2010 Marc Pallisco Melbourne Residential Development Site Sale, Northcote

Prestige builder Glenvill Projects Pty Ltd is speculated to be paying about $15 million for the former Joshua Pitt leather manufacturing site which spreads over two streets and 13,450 square metres of prime real estate in Melbourne’s inner-north.

Joshua Pitt has reportedly been based at the 52 – 79 Gadd Street, Northcote property for 121 years.

Glenvill is expected to redevelop the site into a major apartment complex but this could not be confirmed with managing director Len Warson, who was unavailable for comment.

Charter Hall Starts Marketing Townhouses at Former Nylex Mentone Site

June 27, 2010 Marc Pallisco charter hall, harvey norman, Mentone

CHARTER Hall is set to start building a $75 million housing estate on part of Nylex’s former industrial products manufacturing and distribution complex in Mentone, a site which it has snapped up in stages over the past four years.

In a trend that is seeing interstate builders increasingly look to Melbourne’s outer suburbs for opportunity, the Sydney-based developer plans to build 119 townhouses on the 3.3 hectare site at the south-west corner of Warrigal Road and Oak Avenue.

Construction of the project, to be known as Aquilo, is set to start within weeks. Marketing of the first townhouses, priced from just under half a million each, commences today.

Buxton Buys St Kilda Development Site

June 27, 2010 Marc Pallisco buxton, Melbourne Residential Development Site Sale, st kilda

MELBOURNE-based developer Buxton Group has been revealed as the buyer of a prominent St Kilda development site near the Acland Street shopping strip.

The group is believed to be paying about $7.5 million for a 1000 square metre site at the corner of Barkly and Belford streets previously occupied by the Vasiliki lobster shop and Earls Hardware.

The site was sold with a permit for a $50 million, five-level tower with about 84 units but it’s believed Buxton may propose a higher density redevelopment, a practice which is becoming increasingly common all around Melbourne.

R.Corporation Buys Cheltenham Site For Speculated $20 Million

June 27, 2010 Marc Pallisco Cheltenham, Melbourne suburban residential development site sale, r.corporation

BOUTIQUE builder R.Corporation has purchased its first major development site since the 2008 economic downturn, and is said to be planning a $150 million-plus mixed use village which would be amongst the biggest projects in the developer’s portfolio.

The South Yarra based developer, headed by Andrew Rettig, is understood to be paying about $20 million, sources estimate, for a vacant four hectare site at 98 – 116 Cavanagh Street in Cheltenham, 20 kilometres south east of town.

R.Corporation is reputedly planning to replace the site with a mix of shops, offices and apartments.

Serrata interior

Vivas Lend Lease Announces Docklands Next Apartment Tower, Serrata

June 15, 2010 Marc Pallisco Docklands, Docklands Apartment Building, Lend Lease, Vivas Lend Lease

DOCKLANDS next major apartment tower is set to take shape at 815 Bourke Street.

Vivas Lend Lease this month announced plans to develop Serrata, a 15-level, 144-unit complex, between Victoria Harbour and the Yarra River.

A Vivas Lend Lease representative says the development provides an opportunity for Generation Y “first home buyers” with a desire for city living to get into the market.

Doncaster Road Site Sells to Overseas Developer For $16.25 Million

June 16, 2010 Marc Pallisco Doncaster, Doncaster Development Site Sale, Doncaster Retail Sale

A PROMINENT eastern suburb site, once owned by members of the Myer family has sold to an overseas investor and is set to be rebuilt as a $100 million mixed use village of shops, offices and apartments.

An Asia-based builder has paid $16.25 million for the major 8395 square metre bulky goods complex on the south-east corner of Doncaster and Manningham roads, in Doncaster.

The site, with a street address of 602 – 630 Doncaster Road, is recognised as the Doncaster home of retailers Officeworks and Autobahn.

Mirvac Sebel Deep Blue Resort, Warrnambool, For Sale

June 17, 2010 Marc Pallisco mirvac, tourist accommodation, Warrnambool

WARRNAMBOOL based developer Graeme Schultz can expect to make about $12 million from the sale of a 75-room resort on Victoria’s Great Ocean Road.

The Sebel Deep Blue resort at Warrnambool, about 270 kilometres west of the CBD, will be sold with a lease to Mirvac Hotels.

The 4.5 star resort includes a restaurant, bath house, therapy pool, swimming pool, private bathing rooms and function rooms catering for up to 300 people.

Nikos Believed to be Behind $21 Million St Kilda Road Purchase

June 18, 2010 Marc Pallisco St Kilda Road, St Kilda Road Office Sale

PRIVATE investment group Nikos Property Group is believed to be making its second foray into the St Kilda Road office market.

Sources say the group is in advanced negotiations to buy the 549 St Kilda Road office for $21 million.

The building is being offloaded by Chartis, whose predecessor, American Home Assurance Company, paid $28 million in 1987.

Chartis is relocating its offices to Docklands.

Belgian Beer Cafe

Surge in Chinese Visa Applications Prompts St Kilda Road Office Lease

June 14, 2010 Marc Pallisco St Kilda Road, St Kilda Road Office Lease

A SURGE in the number of Chinese visa applications has forced the Chinese Embassy to lease new offices specifically for the Chinese Visa Application Service Centre division.

The department will now be based at 570 St Kilda Road after signing a six year lease for almost 500 square metres of ground floor space.

The Chinese government will pay a starting rent of $240 per square metre, per annum to occupy the A-grade, 8-level office, opposite the popular Belgian Beer Cafe Bluestone and Wesley College.

Densities, Values of Bennetts Lane Site Booms in Two Years

June 17, 2010 Marc Pallisco Bennetts Lane, Melbourne CBD development site sale

IN a sign of how dense living is set to become within the CBD grid, a tiny 120 square metre development site – big enough to fit about six parked cars – will become an 11-level, 25-unit apartment tower.

The owner of a site at 22 – 24 Bennetts Lane has decided to sell after obtaining a permit to redevelop the existing block into a major tower.

Two years ago, the site sold at auction for $1.1 million or about twice what had been expected.

Selling Melbourne to the World

Defunct Melbourne Convention Centre to be Sold as Development Site

June 14, 2010 Marc Pallisco ALP, john brumby, Melbourne CBD development site sale

THE Victorian Government will offload a prominent asset on the banks of the Yarra River, at the junction the CBD meets Southbank and Docklands.

The Department of Treasury and Finance is managing the campaign to sell the former Melbourne Convention Centre building at the south-west corner of Flinders and Spencer streets and abutting the prominent semi-circle Crowne Promenade Hotel.

The low rise building, once used as Melbourne’s makeshift Crown Casino is expected to be demolished.

Coles Makes Major Purchase in Coburg

June 16, 2010 Marc Pallisco Coburg, Coles, Melbourne industrial sale

COLES Group Property Developments is understood to have paid about $6 million for a major retail development site in Coburg.

The 1.75 hectare property at 180 – 196 Gaffney Street also has access to Sussex, Lens and Marion streets – making it a prime site for a mixed use project including apartments and offices, as well as a supermarket-based shopping centre.

The site is currently a collection of industrial warehouses spread across fifteen titles.

YHA North Melbourne

YHA Vic to Sell North Melbourne Backpackers Complex

June 15, 2010 Marc Pallisco Melbourne Inner City Development Site Sale, North Melbourne

THE Youth Hostels Association of Victoria is offloading a 56-room backpacker hostel at 76 Chapman Street, in North Melbourne.

The existing three-level building is expected to arouse interest from developers who may propose a higher density project for the 1023 square metre site, possibly with a component of public housing.

Alternatively, according to Teska Carson director Larry Takis, the existing building could be reconfigured into standard “own your own” apartments, and then onsold.

Williamstown property

Prominent Williamstown Retail Complex Sells For $10 Million

June 14, 2010 Marc Pallisco Melbourne suburban retail sale, Williamstown

A PRIVATE investor has paid close to $10 million for a prominent Williamstown retail complex, at the corner of busy Ferguson Street and Douglas Parade.

Fitzroys selling agent Geoff Emmett confirmed the prominent site sold before a scheduled auction on Thursday.

Based on the complex’s annual rental income of $568,796, the asset sold on a yield of about 5.7 per cent.

Baracon Retains Southbank Site, Decides to Develop Major Tower

June 14, 2010 Marc Pallisco Baracon, Southbank

SOUTH Melbourne based developer Baracon has decided to retain a prominent Southbank development site. Baracon had been expected to make

Another Developer Demolishes Heritage Melbourne Home, Then Lists Block For Sale

June 14, 2010 Marc Pallisco Canterbury, heritage, planning

THEY came, they saw, they conquered – and now they are selling up.

The list of developers putting vacant blocks on the market after demolishing the period homes that stood there has grown.

This time, in Canterbury’s “Golden Mile”, builder AXF Developments is selling a cleared 2330 square metre site at the corner of ritzy Mont Albert Road and Wentworth Avenue.

The site will be auctioned with a permit for a medium density apartment complex.

Victorian Female Contestants Make Their Mark in Australasian Auctioneering Competition

June 14, 2010 Marc Pallisco industry news

A HEALTHY number of female real estate agents are competing to represent Victoria in an Australasian competition seeking the region’s best auctioneer.

For the first time, this year, ladies have chosen to compete in the Real Estate Institute award, where auctioneers must sell themselves, to a panel of judges.

Contestants will field questions from the audience, and must run an entertaining auction, while also being fully conversant about the laws.

Michael Yates to Sell South Yarra Office

June 14, 2010 Marc Pallisco Melbourne Suburb Office Sale, south yarra

SOUTH Yarra based developer Michael Yates is selling a near new office building, in what is fast becoming the centre of South Yarra.

The three-level, 2246 square metre office at 15 – 19 Claremont Street is leased to international publishing house Macmillian Publishing, which pays a current annual rent of $886,929.

The office is expected to fetch about $11 million, which would reflect a yield of about 8 per cent.

Church of Scientology sells HQ after 30 years

May 31, 2010February 15, 2021 Marc Pallisco

The Church of Scientology has offloaded a Melbourne CBD building it bought for $720,000 in 1980 as its headquarters. The

ALP Considers Selling Prominent VicRoads Headquarters, Kew

May 30, 2010 Marc Pallisco government action, kew, Melbourne Office Tenant Move, Melbourne Residential Development Site Sale

THE Victorian State Labor government is continuing to offload its most spectacularly located real estate assets, with a major site in ritzy Kew expected to wind up in the hands of residential developers – possibly as early as next year.

The Department of Treasury and Finance is understood to have employed a private consultant to conduct a feasibility study into the future use of the 60 Denmak Street office site, currently occupied by government agency VicRoads.

A confidential Request for Quotation seen by The Age suggests moving VicRoads staff within three to four years.

Mirvac to Start Marketing Homes at Former Austral Bricks Site by October 2010

June 2, 2010 Marc Pallisco Melbourne Residential Development, mirvac, Scoresby, Wantirna South

TWO years after Mirvac paid Brickworks Limited a staggering $100 million for its Austral Bricks site, in Melbourne’s south-east, the Sydney-based developer is ready to start marketing the first homes.

Mirvac Victoria CEO John Carfi says the first blocks at the site, known as 525 Stud Road, in Scoresby, should be put to the market in October.

The Austral Bricks site spreads 56 hectares, and spills into the neighbouring suburb of Wantirna South.

Michael Coppel to Sell Office at Prominent Melbourne CBD Corner

May 30, 2010 Marc Pallisco Melbourne CBD office sale

MUSIC promoter Michael Coppel is offloading a low-rise office building with redevelopment potential at one of the CBD’s busiest intersections.

Mr Coppel can expect to make about $12.5 million, sources say, from the sale of 389 – 391 Swanston Street, at the north-west corner of La Trobe Street.

The site is almost encapsulated by the Royal Melbourne Institute of Technology – a possible buyer – and opposite Melbourne Central and the State Library of Victoria.

Hungry Jacks leases the ground floor of the three-level, 1355 square metre building, which returns a total annual rent of $610,987.

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