Bendigo Art Gallery to be Expanded Again

THE popular Bendigo Art Gallery (part of interior pictured, right) is to expand, again, to cater for two new gallery spaces, a bigger entrance and new storage and loading facilities.

The $7.55 million project will be funded by a $3.8 million state government contribution, a $3.3 million council contribution and a $450,000 philanthropic offering.

City of Greater Bendigo Mayor Cr Rod Fyffe said the expansion is part of councils View Street Arts Precinct Master Plan.

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Another College to Make Way For Apartments, Melbourne

THE new owners of a disused city college near the Queen Victoria Market in the Melbourne CBD have lodged an application which would more than doubles the size of a proposed apartment tower approved by council just four months ago.

If permitted, the former Carrick Education College, on a battle-axe shaped site at 48 – 50 A’Beckett Street could make way for a 39-level tower rising 121 metres, and distinguished by a 40-metre podium at street level.

The new proposal would replace a permit issued in April by the City of Melbourne to redevelop the 723 square metre block into an 18-level apartment building rising 60 metres. This permit was issued after council rejected another application, lodged in November 2010 and for a 45-level tower, based on height and setback.

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Melbourne’s Target Centre Sells For $89.2 Million

SINGAPORE based private investor Philip Lim is understood to be the mystery buyer paying $89.2 million for an asset on the footsteps of the Bourke Street Mall.

The Target Centre, at 222 – 244 Bourke Street was listed for sale earlier this year by Wesfarmers controlled Coles Group.

The asset includes 10,077 square metres of retail space, and an 11,113 square metre office component. Tenants include Vintage Cellars, Gloria Jeans, Jetstar and Monash College but Target occupies the majority of the building which returns $6.4 million in annual rent, and is said to be selling on a yield of 7.2 per cent.

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Doncaster Hill Site Sells For $3 Million

A CHINA-based developer is understood to have paid $3 million for a 1465 square metre development site near a prominent Doncaster Hill junction, about 13 kilometres east of town.

The 86 – 88 Tram Road sold with a permit for a six-level, 28-unit tower, each with balconies and car parks. The site is about 150 metres from the corner of busy Doncaster Road, and near Westfield Doncaster – the site Sydney-based retail giant Westfield chose to develop its first Melbourne shopping centre in 1969.  Savills Nick Peden and Nick Dempsey were the marketing agents.

Manningham City Council has been encouraging high density housing for arguably for longer than any suburban council – mainly around Doncaster Road.

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Skinny Skyscraper to Replace Historic La Trobe Street Building, Melbourne

IT’S not just developers pushing Melbourne’s planning limits.

Entrepreneurs who earn their living outside of real estate are also dreaming up the city’s next landmark towers – cashing in on Melbourne’s trifecta of a booming population, the need to create construction jobs and a so-called collapse in housing affordability.

This time, at 36 – 40 La Trobe Street, lawyer and migration agent Konfir Kabo is proposing to demolish the historic low-rise GMK House building and replace it with one of Melbourne’s skinniest residential skyscrapers.

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Construction of Camberwell Station Village Delayed, Melbourne

CONSTRUCTION of a contentious Camberwell apartment project dubbed by locals as “Melbourne’s ugliest tower” is now not likely to start until at least next year.

State government agency VicTrack, with private developer Tenterfield, spent ten years pushing through a $100 million mixed used village, The Place, to replace land atop the Camberwell train station, east of Burke Road.

The Place was approved by the Victorian Civil and Administrative Tribunal last April – just seven months before the controversial state government planning policy it relied on, Melbourne 2030, was shredded by the new Baillieu government.

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Two Melbourne Train Stations Identified as Terminals For Sydney-to-Melbourne High Speed Rail Link

MELBOURNE’s Southern Cross rail station (pictured) – formerly known as the Spencer Street Station – could get a $2 billion upgrade, as part of plans to build a high-speed rail link to Sydney.

The rail tunnel, proposed within a federal government study last week, could cost between $61 billion and $108 billion.

The trip between Australia’s two most populated cities could take three hours, with the train reaching speeds of 350 km/h (outside of the capitals, where they’ll travel about 200 km/h). This compares to about an hour, by plane, or about nine hours by road.

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Fridcorp Doubles the Density of Controversial South Yarra Apartment Tower

BOUTIQUE builder Fridcorp has redesigned and rebranded the controversial $120 million South Yarra apartment proposal that it bought into a couple of months ago.

The site, on the south-west corner of Chapel Street and Alexandra Avenue and opposite the Yarra River, has for some 18 months been marketed as Tresor – a 14-level tower which would have included 99 luxury apartments (artist impression, right).

Network Nine executive director Jeff Browne was one of Tresor’s highest profile buyers, paying a reported $5 million for a four-bedroom unit, off-the-plan.

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Northcote Aged Care Facility to be Sold

ANOTHER religious based group is disposing a prime located suburban asset, which is likely to be redeveloped as flats.

This time, in Northcote, Churches of Christ Community Care is selling the former Fred Combridge House aged facility at 1A Campbell Grove, and high on Ruckers Hill (aerial image, right).

The former 30-bed facility is spread across a 2712 square metre site, and, according to Fitzroys selling agents Charles Emmett and Geoff Emmett, is expected to arouse developer interest and sell for between $5 million – $5.5 million, reflecting a rate per square metre of land, of approximately $1850 – $2000.

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Supersized North Melbourne Development Site Expected to Fetch $8 Million

A SUPERSIZED North Melbourne development site, opposite two small parks and capable of accommodating a landmark skyscraper, has hit the market and is expected to sell for about $8 million.

The 3555 square metre property at 181 – 189 Capel Street (aerial image, right) currently includes a large warehouse constructed in the 1960s and which is tenanted by AAMI as an insurance assessment centre. An adjoining small warehouse is occupied by another tenant. Combined the assets return $528,634 in annual rent but AAMI will vacate soon.

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Charter Hall to Sell 150 Queen Street Office, Melbourne, at a Loss

SYDNEY-based fund manager Charter Hall can expect some $25 million from the sale of a Melbourne CBD office it bought for $32 million in September 2007 – just weeks before the last commercial property market peak.

A spokeswoman said the Charter Hall Core Office Fund will use moneys from the sale to invest in larger, prime opportunities.

The asset on offer at 150 Queen Street (pictured, right), on the corner of Bourke Street, was developed in the 1960s and known for years as the Prudential Building.

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Former Austcorp Wheelers Hill Site Hits The Market With Permits

ANOTHER prominent development site has been listed for sale in Melbourne’s east.

This time, at the south-west corner of Jells and Ferntree Gully roads, in Wheelers Hill (aerial of the site, right), Ammache Architects is selling an 8106 square metre block with plans and permits for a four-level, 131-unit apartment complex.

Ammache paid $4.3 million for the Wheeleres Hill site in August 2009, but is said to be seeking about $10 million for the block now.

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Catholic Leadership Centre to Start Construction, East Melbourne

COMMUTERS stuck at the congested intersection best dubbed a traffic sewer will be able to watch a $25 million redevelopment of a prominent East Melbourne church site.

The Catholic Leadership Centre will be developed within buildings, and on surplus land surrounding the prominent Celtic Church on the south-west corner of Hoddle and Victoria streets – about three blocks away from the Fitzroy Gardens, and five blocks from the MCG.

The centre will include a new short term accommodation complex for 45 people, a dining room for 400, and a basement car park with 59 bays. Existing heritage buildings will be refurbished, while a glazed roof walkway will be developed through the spine of the complex.

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JB Hi Fi outgrows East Keilor birthplace

MELBOURNE-born retail giant JB Hi Fi is staring down progress, in Keilor East.

This month, the electrical and media retail chain, which is now ASX-listed, vacated the Centreway store (pictured, right) which the company’s founder, John Barbuto, opened as the first JB Hi Fi in 1974.

Barbuto sold his business in 1983 to a consortium, which by the end of the century had opened nine more JB Hi Fi outlets across Melbourne.

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Silverton to Sell Out of $100 Million Balwyn Project

LIFE is about to get a little less private in ritzy Monomeath Avenue – the leafy eastern suburb boulevard often touted as Melbourne’s best street.

Despite being rejected by the City of Boorondara council, the Victorian Civil and Administrative Tribunal has approved a $100 million-plus mixed use village only a block away, which will add four new apartment towers to the area – the tallest of which will rise seven levels.

The proposed new Balwyn development affects a large chunk of land on Jersey Street, which Monomeath Avenue residents use as the most straightforward thoroughfare to Whitehorse Road.

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Australian Unity to Sell $19 Million Prahran Properties

AUSTRALIAN Unity is offloading one of its most prized located medical centres in Prahran, just 200 metres from retail mecca Chapel Street.

The Victoria House Medical Centre and Victoria Clinic complexes, between 314 – 324 Malvern Road, are spread across 5939 square metres of land, most of which is zoned Residential 1.

The asset will be sold with leases in place to six tenants. Leading private healthcare group Healthscope is committed to the site until 2018.

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Mirvac Building Wall That Will Block Waverley Park Eyesore From Melburnians

SYDNEY-based developer Mirvac is building a giant freeway wall which will block Melburnian’s travelling on the Monash Freeway from seeing one of the south-eastern suburb’s most familiar eyesores.

As part of its Waverley Park stadium townhouse redevelopment, which is nearing completion, Mirvac is required to build a freeway wall to mitigate traffic nose for new residents.

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Michael Kroger Sells Second Piece of Former South Yarra Estate

LIBERAL Party powerbroker Michael Kroger (pictured, right) has finally sold the last piece of the South Yarra estate that was for years the marital home he shared with Ann Peacock.

The sale of the 1850s coach house, in Caroline Street (image, far right), ends a lengthy sales campaign which started in early 2009, and shortly after the couple announced they would separate.

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Q-Cars Site at Kew Junction to Become 12-Level Apartment Complex

THE new owners of a prominent car yard near the busy Kew Junction (pictured, right) have wasted no time speeding through a new high-density proposal.

After selling to developers in late 2009, the 118 – 120 High Street site, which has been for years occupied by Q-Cars, will make way for a 12-level, 46 unit apartment tower with ground floor shops and 36 car park bays.

The Rothelowman designed tower – Clara Q – will be the Kew Junction’s tallest building, and will make the suburb easier to identify from other elevated parts of Melbourne with an eastern suburb outlook.

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Peet & Co to Sell Suburban Melbourne Development Site

PERTH-based developer Peet & Co has apparently decided against developing a 28 hectare housing estate in Melbourne’s outer south-east, and is now selling the site.

Sources expect the block could fetch close to $30 million, given it is for sale with a 291-lot subdivision, and effectively ready to build upon.

At 55 Abrehart Road, about 55 kilometres south-east of town, the estate (pictured, right) is near commercial hubs in Cranboune and Dandenong and is not far from the Pakenham Golf Course.

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Car Park Near Melbourne Airport Sells For $8 Million

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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RACV Reaps $2 Million From Frankston South Site Sale

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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R.Corporation Pays Australia Post Nearly $11.5 Million For Prominent Maidstone Site

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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Truganina South Melbourne’s Newest Suburb

A NEW Melbourne suburb, 19 kilometres south-west of town, has been unveiled.

Truganina South will be developed on a 250 hectare block of land near Hoppers Crossing and in the council area of Wyndham which was recently identified as the country’s fastest growing.

Planning minister Matthew Guy (pictured, right) launched the suburb bound by Leakes, Palmers and Sayers roads, and, traveling west, farmland on the way to Derrimut Road.

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Julia Gillard Can Double Size of Her Altona Estate For $550,000

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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ATO renews at Moonee Ponds

CHARTER Hall Office REIT has signed the Australian Tax Office to renew its lease at a prominent Moonee Ponds office tower.

The ATO has occupied the entire 22,000 square metre, seven level building (pictured, right) since it was developed in 1991. The office is near the Puckle Street retail strip, identified by previous governments as a prime activity centre in the north-west.

ATO’s lease was due to expire in 2013. It has now extended that until February 2020.

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Victoria’s Highest Priced Home Still Unsettled

THE agency selling the Toorak mansion expected to smash Victoria’s residential price record is still confident of a sale despite the bleak global economic backdrop.

The 3 Towers Road mansion of London-based mining speculator Socrates Vasiliades was listed for sale in May with price expectations of about $30 million.

An Expression of Interest campaign managed by Kay & Burton’s Ross Savas closed a month ago but the house still appears on industry websites as a current campaign.

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MAB Unveils Docklands Newest Street: Millionaires Only

DOCKLANDS newest street – overlooking the water – and developed only with multimillion dollar townhouses – was launched earlier this month.

MAB Corporation sold all 18 low-rise homes marketed as Marina Residences prior to completion and for prices of up to $4.65 million.

The homes, each with water and city views, were developed over a reconstructed wharf in the developer’s NewQuay precinct. Each includes a plunge pool, four car garage, home theatre, home office and outdoor terrace.

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Salta Looks to Build on More Land Around Victoria Gardens, Richmond

LOCAL developer Salta is pushing ahead with plans to build apartments on undeveloped pieces of land immediately surrounding the Victoria Gardens shopping centre, on the Richmond riverfront.

It’s applied to the Yarra City Council to build 405 flats within new complexes between 25 – 35 River Boulevard and at 15 Christine Crescent. The proposed developments would add 480 permanent car spaces and 30 visitor spots to the area, which is not serviced by a train.

Salta acquired the former Melbourne Fire Brigade land where Victoria Gardens was built in stages. With its last major purchase in 2004, it seized control of every corner at the busy intersection of Burnley, Walmer and Victoria streets.

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Hawthorn FC Executive Stuart Fox to Sell Gherang Estate

HAWTHORN Football Club chief executive Stuart Fox, and wife Sybella, are selling the Wirraminna farm they acquired in 2002 in Gherang, via Moriac – some 10 minutes north east of Anglesea, and 15 minutes east of Torquay.

Translated as “peaceful beside the water”, Wirraminna spreads over two hectares and includes three rainwater tanks, two paddocks and a dam which could accommodate horses or cattle.

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Ramsay Street Values Surge to Well Above Metropolitan Melbourne Average

THE private owners of homes in Pin Oak Court, Vermont South (which is beamed across the world as Ramsay Street, Erinsborough in TV show Neighbours and pictured, right) must be pleased with impressive recent sale results in the area.

Vermont South, some 20 kilometres east of the CBD, was part-chosen for its proximity to Forest Hill studios used by network producers when Neighbours was first mooted in the mid 1980s.

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VCAT Approves Construction of Luxury Home Overlooking Controversial Mount Martha Beach

EXHIBITIONIST sunbakers and adventurist gays visiting Mount Eliza’s Sunnyside beaches might have to contend with the sight and sound of construction workers for a few years longer.

Millionaire horse trainer Jonathan Munz has successfully lobbied the Victorian Civil and Administrative Tribunal for a permit to build a luxury home and tennis court on a waterfront piece of his landmark Pinecliff horse training complex – near another home that was demolished in 2006.

Pinecliff, at 55-75 Sunnyside Road is on Green Wedge Zone 3 land near the YMCA’s Manyung Recreation Camp, the Morning Star Winery and Mornington Golf Club (an image of the Mount Martha coast, above).

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Peter Mac East Melbourne Hospital Closer to Hitting Market

DEVELOPERS might not have to wait much longer to get their hands on one what has for years been one of Melbourne’s most anticipated building blocks.

Sources are confident hospital Peter MacCallum Cancer Institute is one of the sickbays expected to “sell surplus property” ahead of a move to the new $1 billion Victorian Comprehensive Cancer Clinic, which is under construction at the top of the Haymarket roundabout in Carlton.

The former Royal Dental Hospital, which stood on a portion of what will be the new Victorian CCC, was demolished in August last year. The new centre is scheduled to open in 2015.

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Westfield Lobbies Geelong Council Against Permitting Rival Shopping Centre

RETAIL giant Westfield has successfully lobbied against plans by Geelong-based builder and investor Costa Group to rezone a prominent collection of Moolap properties, including what was once a major indoor tennis centre.

Westfield, along with shopping centres Newcomb Central, Bellarine Village and local businesses argued to the Greater Geelong City Council that a rezoning request pitched by Costa – which could have allowed it to build a big shopping centre – would negatively affect designated Activity Centres allocated around Geelong’s suburbs.

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Melbourne’s 206 Bourke Street Hits Market: $100 Million Expected

IT’S been a major department store, a flagship city-cinema complex and a problem development site. 

And now – 206 Bourke Street is set to be Melbourne’s next nine-figure offering.

Private developer Les Smith with joint venture partner Macquarie Bank are selling the major 3140 square metre city block known between 1985 and 2005 as the Village City Centre, and occupied by the cinema as offices until mid-2008.

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Goodman Group Signs Three Industrial Leases Totaling 84,000 Square Metres

GOODMAN Group has signed three major industrial leases totaling 84,000 square metres.

Transport company Wettenhalls has signed a five year lease for a 32,600 square metre facility at Laverton North, in Melbourne’s west. Wettenhalls is paying $60 per square metre to occupy the site within Goodman’s Wyndham Distribution Centre.

The space Wettenhall is moving into was previously occupied by Kmart, which is moving to a 76,700 square metre facility at Goodman’s Banfield Distribution Centre in Truganina, also in Melbourne’s west and not far from Laverton North.

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Jo Stanley Sells Elwood House For $1.26 Million

RADIO personality Jo Stanley (pictured, right) has sold the Elwood home she outgrew for $1.26 million.

Stanley, with husband Darren McFarlane, purchased the renovated three-bedroom terrace about five years ago – about three years before the arrival of daughter Willow.

Near the beach and Elwood village, the semi-detached Edwardian has two living areas and a relatively large side yard.

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Hume City Council Creates Comprehensive Sunbury Database

THE Hume City Council has created a comprehensive, free synopsis of major properties in Sunbury, about 30 kilometres north of town.

The Sunbury Town Centre Database tracks the history of the town since 1960, and as the government sold off land once used by the rail department.

Like popular industry resource CityScope, the Sunbury database gives investors, retailers and other potential businesses important information regarding everything from tenancy mixes, through to most recent property sales.

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Billionaire Businessman Lloyd Williams Buys Adjoining South Yarra Development Sites

BILLIONAIRE businessman Lloyd Williams is continuing to reweight his property portfolio.

This time, in South Yarra, the racehorse owner, investor and high-density apartment builder has paid $13 million for two adjoining, historic homes (aerial pic, right) in the heart of the suburb’s uber-exclusive,  low density Botanic Gardens precinct.

Williams is expected to bulldoze the homes on the combined 1632 square metre site – including a 1930s mansion – and replace it with something more efficient, presumably a multi-level apartment complex built atop an underground car park.

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MAB Replaces Westgate Toll Collection Facility, Port Melbourne, with Expressway Business Park

GOVERNMENT human resource officers take note – another private development company is about to prove Treasury missed a chance to substantially boost its coffers.

MAB Corporation is slicing, dicing and readying to profit from a 3.1 hectare Port Melbourne facility it bought from the state government for a low $12.65 million six months ago (in a deal it didn’t have to pay stamp duty for).

The 12-62 Cook Street site was for years the toll collection facility for the West Gate Bridge. The easternmost boundary of the site offers 500 metres of exposure to an offramp of the West Gate Freeway, where 160,000 vehicles pass per day.

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Community Housing Leases 1000 Sq M Box Hill Office

INTERNATIONAL service provider Community Housing Limited – a specialist in securing local accommodation for residents living in overseas slums and other informal housing – has expanded into flash new Box Hill offices.

CHL has signed a major 1000 square metre lease at 26 – 28 Prospect Street (pictured, right), not far from another smaller building it occupied at 9-11 Prospect Street.

Both buildings are near the side-entrance of the Centro Box Hill shopping centre, which also includes a train station.

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Pratt Family Offload Prominent Hawthorn Development Site

THE Pratt family’s investment vehicle, Thorney Holdings, has decided against redeveloping Hawthorn’s derelict California Hotel.

Run for 20 years by the Alex Waislitz, the son-in-law of the late Richard Pratt (pictured, right), the intensely private company purchased the 7799 square metre site at 138 Barkers Road (pictured, far right) in 2007.

In 2009, the Victorian Civil and Administrative Tribunal approved a proposal which would see the 82-room hotel demolished and replaced with a $42 million 87-unit residential apartment complex rising five levels.

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Melbourne Planning Landscape Changed Forever Because of Melbourne 2030 Policy

TWO disused bowling alleys, north and south of the Yarra River, give an indication of how fast planning attitudes have reformed, as architects, developers and planners maximised the former government’s redundant Melbourne @ 5 Million planning strategy.

In Mentone, some 21 kilometres south of the CBD, council has just rejected plans to replace the Mentone Bowl site with a 170-unit residential village topped by two towers of eight and 12 levels.

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Wesfarmers To Unveil New Concept Store, Urban at Target, in Melbourne

WESFARMERS owned Target will open the first of its “small format store” in Melbourne, in September.

The new store, Urban by Target, will occupy 1000 square metres of space once occupied by Virgin Megastore at the prominent Jam Factory in South Yarra, owned by Challenger.

Wesfarmers, which also owns supermarket giant Coles, is looking to expand both its Urban by Target and Target Country divisions. It’s also planning more large-format Target stores.

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Development Site Opposite South Melbourne Market Expected to Fetch About $20 Million

AN OWNER-occupier that controls a massive 4287 square metre property opposite the South Melbourne Market has publicly listed it for sale.

The Novak Prestige Motor Works site at the north-west corner of York and Cecil streets, in South Melbourne (aerial, right), is an amalgamation of several adjoining properties. Panel beater and painter Novak purchased the first site in 1965, acquiring another seven over a 45-year period.

Effectively a development site, and being offered with an extended settlement, the property is expected to arouse interest from builders, or land bankers which may onsell all or part of it at a more buoyant time of the market, possibly with permits.

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Federal Government’s Beleagured NRAS Suffers Another Setback

THE federal government’s ailing National Rental Affordability Scheme has suffered a convenient setback.

The $623 million initiative – introduced by Kevin Rudd in 2008, and then part-cut by Julia Gillard and Wayne Swan in recent budgets – has lost another private sector backer which was to have provided 255 affordable housing units in Coburg.

Developer Hamton, with joint venture partner Macquarie Real Estate Investment Equity Fund, has quietly rescheduled the start date of its contentious Coburg High School redevelopment – Circa (artist impression, above).

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Nathan Tinkler’s Buildev Invests in Sleepy Wonthaggi, Victoria

MILLIONS of interstate mining dollars will be invested in sleepy South Gippsland.

Sydney-based developer Buildev – of which NSW based mining magnate Nathan Tinkler (pictured, right) is a key shareholder – has signed an agreement to acquire part of the Wonthaggi Golf Club, on South Dudley Road and a stretch of Bass Highway known as McKenzie Street, north of the Wonthaggi township.

Buidev plans to build medium density housing, tourist accommodation and a retirement village on a 15 hectare slice of the course. The affected land is along the perimeter of the site between what is currently the 14th and 18th holes.

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17-Level Apartment Tower Mooted Near Collingwood’s Victoria Park Stadium

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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Sunland Unveils New Project, Eton, in Melbourne’s Bundoora

IT’S incredible to think Bundoora’s University Hill project, which upon completion will have an end value of more than $1 billion, is being developed on 104-hectares of largely disused farmland local developer MAB Corporation bought from the Royal Melbourne Institute of Technology in 2004 for just $21 million.

Measured by end value, the project, 20 kilometres north of CBD and on land which also once accommodated the Janefield Special School, is one of Victoria’s biggest urban renewals. In seven years, land around the picturesque Plenty Gorge has slowly been replaced with shopping centres, offices, aged care facilities and housing estates.

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Aerial Penthouse, Camberwell, Expected to Fetch About $4 Million

Queensland born and now Sydney-based developer FKP has listed for sale the one and only penthouse within its contentious Aerial project, at the Camberwell Junction, in East Hawthorn (pictured, right).

The 388 square metre unit is at the top floor of Aerial’s west tower and includes four bedrooms, four car spaces and a 128 square metre balcony. It also has floor-to-ceiling windows offering uninterrupted city skyline views.

The Victorian Civil and Administrative Tribunal approved Aerial in early 2008, and then in 2009, allowed the developer to increase the number of units within the development by 40 per cent, to 144.

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Lifestyle Communities Buys High Street Hastings Site

LIFESTYLE Communities, the new name for the delisted company once known as Namberry Limited, has paid an as-yet-undisclosed sum for a six hectare development site in Hastings (pictured), in Melbourne’s outer south-east.

The High Street site will make way for a 150-unit retirement village that will be part of a high-end, master-planned senior’s community to be branded Lifestyle Hastings.

The acquisition comes less than a month after a $50 million capital raising by Lifestyle, which says it wants to develop a new affordable seniors village every twelve months.

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VCAT to Decide Fate of Dimmeys Richmond Store Soon

THE Victorian Civil and Administrative Tribunal needs more time to decide whether to allow the construction of a 10-level apartment tower atop Richmond’s iconic Dimmeys shopping centre.

After meeting this month VCAT is scheduling another date to debate the 82-unit proposal, which is slightly lower density than a Heritage Victoria endorsed 11-level proposal – rejected by the City of Yarra council in February.

Both HV and council voiced concerns about a previous proposal lodged in early-2010 which would have seen the south-west corner of the 140 – 160 Swan Street site replaced with two apartment towers, the tallest rising 11 levels.

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Bayside City Council to Sell Two More New Brighton Bathing Boxes

BAYSIDE City council can expect to reap more than $400,000 from selling leasing rights to two new bathing boxes it has constructed at Brighton’s Dendy Beach.

It was almost two years ago the council decided to build six new bathing boxes on the prominent stretch of sand, in a move expected would generate about $1 million in extra income.

The first bathing box developed on the beach in more than a century sold for $215,000 last December, suggesting the council can expect around $1.3 million from the endeavour.

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Peter Maddison Designed Townhouse Hits Market in South Yarra

A TOWNHOUSE created by Peter Maddison – architect and host of Lifestyle Channel’s Grand Designs Australia – has hit the market in South Yarra.

The three-level duplex in Davis Avenue includes an opulent lounge room with a prominent fireplace that has appeared in numerous design magazines and publications over the years, including Domain.

A study is accessed from this lounge room, which is on the entrance level with a casual living and meals area. At the lowest level, is an underground car park for three cars, while three bedrooms are on the top level.

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Plans Lodged to Subdivide Historic Phillip Island Homestead

ANOTHER establishment family is lobbying to slice and dice their substantial holiday home retreat.

This time, on Phillip Island, the Grollo family have submitted plans to subdivide the historic eight hectare estate, Woolamai House (pictured, right), which was built in 1876 for wealthy hotelier and horse trainer John Cleeland and is one of Victoria’s oldest coastal homesteads.

Woolamai House includes an Italianite Gothic mansion and gardens with heritage plantings abutting the Cape Woolamai foreshore, all of which are included on the Victorian Heritage Register.

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Australian Education Union Spends $16 Million on Neighbouring Abbotsford Office

THE Victorian Branch of the Australian Education Union, presided by Mary Bluett, may need to rely on fee revenue from government educators to pay off a spectacularly located office building it has purchased on the banks of the Yarra River in Abbotsford – next door to its current HQ.

The AEU’s off-market acquisition comes three years after the Association of Independent Schools of Victoria paid about $6 million for a massive art-deco office complex in Rosslyn Street, West Melbourne, and some two years since the National Union of Workers paid almost $7 million for a Bourke Street, Docklands head office.

The AEU is headquartered at a large building at 112 Trenerry Crescent, and rents out surplus office space. That building could be extended, and the site has redevelopment potential, sources say.

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Apartment Skyscraper to Replace Low Rise Office at the Top of Melbourne CBD

THE new owners of a small office building at 315-321 La Trobe Street – near the popular Celtic Club at the top of town – have wasted no time seeking a redevelopment application.

The building was for 25 years the headquarters of law firm Tisher Liner & Co, which relocated to Queen Street after selling its La Trobe Street offices to the developers for a speculated $4 million last September.

Having lobbied immediately (and unsuccessfully) to build a 33-level tower on the small 300 square metre block, the Victorian Civil and Administrative Tribunal has instead granted the new owners approval for a 22-level building rising 65 metres.

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Livinia Nixon Sells Historic Middle Park Home

WEATHERGIRL and television show co-host Livinia Nixon (pictured), with husband Alistair Jack, a builder, have offloaded their renovated Middle Park home.

The double storey, four-bedroom red brick home is understood to have sold for about $3.5 million, sources speculate, after passing in at auction earlier this month for $3.42 million.

Jack, and Nixon, who married in 2009 and welcomed new son Henry in January, are now reportedly looking for another “renovation rescue” project.

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Melbourne School of Theology Pays $8 Million For Prominent Nutrimetics Office, Wantirna

EVEN non-believers visiting the new Bible College of Victoria headquarters in Wantirna, may find themselves praying Melbourne drivers don’t veer off the highway, and into the building.

The Melbourne School of Theology, which is the new name for the Bible College, has paid a speculated $8 million to owner-occupy the prominent 1.94 hectare suburban office which was for a long-time pink, and the headquarters of cosmetic company Nutrimetics, which was acquired by Tupperware in 2006, then relocated to Ferntree Gully.

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Ettamogah Entertainment to Sell Brighton Headquarters

THE developer that has kept Melbourne’s heritage enthusiasts on edge for a year has quietly listed its Brighton headquarters for sale.

Ettamogah Entertainment, which went into voluntary administration last November, is directed by Leigh O’Brien, whose development company, L&D O’Brien Holdings, paid $12 million in 2009 for the prominent 1 Bay Street Brighton mansion once owned by Olympian turned Gold Coast Mayor Ron Clarke.

L&D planned to replace the 1933 square metre site with a high-end apartment complex, after the Victorian Civil and Administrative Tribunal approved the historic six-bedroom home on the site (pictured) be demolished.

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Stockland Sells South Yarra Development Site at a Loss

SYDNEY-based developer Stockland has absorbed a huge financial loss, finally on-selling a prominent South Yarra development site it paid too much for in 2008.

Stockland has reaped $22.5 million for 2 – 4 Yarra Street site, which is set to make way for an approximate 30 level apartment tower with more than 350 flats.

During the economic downturn, Stockland paid local developer Michael Yates $26.25 million for the 2150 square metre site.

At the time of sale Stockland wanted to build about 250 flats on the site, but it successfully lobbied to increase that number to 353, before listing the asset for sale more than a year ago (image of Stockland’s proposed tower, right).

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Rosati’s Melbourne to be Redeveloped as 10-Level Tower

COMMONWEALTH Fund Management’s decision to preserve million dollar views (and rents) at its prized 101 Collins Street office building by imposing pre-set height limitations on a swag of neighbouring buildings it offered for sale nine years ago, appears to have paid off.

One of the buildings sold by the fund –the historic Rosati’s restaurant at 95 Flinders Lane – has quietly been approved a redevelopment within the maximum 40 metre height limit CFM had hoped.

The Melbourne City Council approved plans will result in the 1896 former warehouse being part-demolished and replaced with a lower level shopping centre, and a 10-level residential or hotel building.

Hotelier and restaurateurs the Zagame family paid Rosati restaurant owner Piero Gesualdi $9 million for the 817 square metre Flinders Lane property in early 2007.

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Actors Reg Gorman and Judith Roberts sell in St Kilda East

ACTORS Reg Gorman and Judith Roberts have sold their two-bedroom apartment in St Kilda East’s quaint Ardoch development for $740,000.

The renovated, ground-floor unit at 8 Ardoch Avenue is in one of Ardoch’s historic buildings, built in the 1920s. The oldest building in the unique estate dates to the 19th century, while newer buildings were developed on the site in the mid 1990s.

Ardoch centres around a grassy expanse, and its residents share a sauna, gymnasium and indoor pool. The property was once used as an orphanage, and a school.

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Historic Little Lon Terraces Offered For Sale Again

THE historic Little Lon terraces which last year made headlines when the owners applied to replace the properties with a 30-level apartment tower – have quietly hit the market again.

The adjoining terraces at 120 – 122 Little Lonsdale Street, near the corner of Elizabeth Street, were built in 1854 as part of a row of “Little Lon” buildings that are still standing and also includes a pub.

In the 1850s, and for the century that followed, the precinct was notorious for its seedy underbelly. The easternmost Little Lonsdale Street blocks accommodated at least four brothels run by infamous pimp Madame Brussels.

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VicRoads Applies to Convert Freeway Wedge Into Housing Estate

IN AN environment where government bureaucrats and planners behave like Melbourne has less land for redevelopment than London, it’s no surprise VicRoads is trying to flog off a poorly located site beside the junction of three busy highways.

VicRoads has requested to rezone two parcels of land known as 25 and 55 Burwood Highway, in Wantirna, which it compulsorily acquired to build the Eastlink tollway, but no longer needs.

The affected land is well serviced by transport – abutting the busy intersection of Burwood and Mountain highways, and Eastlink, about 25 kilometres east of the CBD.

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Spotless Group Leases Entire St Kilda Road Office Building, Melbourne

SPOTLESS Group has leased an entire St Kilda Road office building, and will relocate its headquarters from the Melbourne CBD.

The cleaning services and management company, currently based at 350 Queen Street, has leased about 9200 square metres at the 549 St Kilda Road building previously known as AIG House.

The rent Spotless will pay has not been disclosed, but industry sources speculate it circles about $250 per square metre, per annum, before incentives (a lure usually offered in the way of a fit-out, or rental discount). This is low compared to the CBD, Southbank and Docklands.

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Ladro Prahran Restaurant For Sale

A PRAHRAN eatery leased to restaurateurs Frank Van Haandel, Ingrid Langtry and Sean Kierce, is for sale and expected to fetch between $4.3 and $4.5 millon.

The single-storey Ladro restaurant at 162 – 162A Greville Street is on a 345 square metre block, and leased for five years with three five year options. The restaurateurs, who founded the first Ladro restaurant in Gertrude Street, Fitzroy, pay a current annual rent of $208,000 to occupy the Prahran site.

The restaurant was fully refurbished in 2010 and has a 24-hour liquor licence. Gross Waddell’s Jonathon McCormack and Michael Gross are the marketing agents.

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Dinner Plain’s Under The Moonlight For Sale

AWARD winning Alpine chalet Under The Moonlight has been listed for private sale.

The opulent Dinner Plain home, developed by R&R Van Heek Builders, won the 2009 Housing Industry Association’s Colorbond Most Innovative Use of Steel award. Judges said Under The Moonlight “commands attention and yet does not over-impose on the area’s natural landscape.”

Under the Moonlight is part of the highest approved freehold land in Australia, and ten minutes from Mount Hotham. Dinner Plain is about a five hour drive, or almost 400 kilometres from Melbourne.

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Toorak’s Little Milton Hits The Market, Price Expectations Circa $13 Million

LITTLE Milton, the luxurious home of late businessman and Corona Group executive John Batkin quietly hit the market this week.

The circa 1926, five-bedroom mansion (pictured, right) is at the north-east corner of Whernside Avenue, and Albany Road – which most advocates and agents agree is Toorak’s most expensive street.

Recently, a new tennis court was developed atop a 12-car underground garage, Little Milton’s overall block size is 2476 square metres.

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