Tony Mokbel’s Former Brunswick Mansion Hits The Rental Market

DIEHARD underbelly fans can live a piece of the underworld lifestyle, with Tony Mokbel’s former family home, in Brunswick, quietly hitting the rental market.

The five bedroom mansion at 9 – 11 Downs Street (pictured, right) was offered for sale early last year, but the listing, nor sale – which settled earlier this year – could be reported because of a recently lifted suppression order.

The new owners are asking $1300 per week for the double-storey home which police believe Mokbel funded through drug activities. The registered owner while he occupied the home was Mokbel’s sister-in-law, Renate.
Ownership of the Brunswick property was transferred to the Attorney General of Victoria in late 2009, under the Confiscation Act 1997.

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RACV Calls For New Thoroughfare to Connect Melbourne’s East and West

AS PLANNERS continue to approve major new housing estates in Melbourne’s (until-recently-forgotten) western suburbs, a powerful state motoring body has called on the new state government to build a new major road thoroughfare, for what will be an imminent surge in car traffic.

The RACV forecasts 20,000 extra car trips will be travelled based on residential development at one new western suburb proposal alone, recently announced by Lend Lease (refer link below).

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Another Slice of Historic Sorrento Property Hits The Market

THREE months after telling Domain he had no intention of doing so, Richard Sheldermine – a member of the Myer dynasty – is selling another subdivided piece of the historic Sorrento property known as The Sisters.

This time, it’s a 2946 square metre waterfront portion being offered, with price expectations of some $10 million.

Earlier this year, Richard reaped $6.5 million selling a 1915 square metre subdivided slice of the estate at 3080 Point Nepean Road.

Richard paid $18.4 million for the historic 1.2 hectare site in early 2008 (pictured, right), before successfully applying to the Victorian Civil and Administrative Tribunal to slice it five ways.

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Prominent Pubs, and a Western Suburbs Development Site, Offered in $80 Million Portfolio

SOME of Melbourne’s most popular hospitality venues – and a major western suburb development site – form part of an $80 million portfolio of properties set to hit the market next month.

A consortium of Melbourne-based private investors, including Sebastian Catalfamo and Gilbert Cabral, will share in the spoils of the eight properties which are being offered separately.

In Melbourne, hospitality venues include The Point on Albert Park Lake – a 940-seat venue which is expected to sell for about $3 million.

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Paul Grabowski to Sell St Kilda East Home

COMPOSER, pianist and one-time television personality Paul Grabowsky, is moving out of St Kilda East, in Melbourne.

Grabowsky, who is renowned for his passion of jazz music, can expect some $1.5 million from the sale of his renovated four bedroom Californian Bungalow which will be auctioned next month.

The Papua New Guinea born musician grew up in suburban Melbourne’s Glen Waverley and first studied music at age five. His passion for jazz started at 16, while at Wesley College which was one of the few Melbourne colleges at the time to boast a jazz ensemble.

After travelling and performing for several years, Grabowski returned to Melbourne in 1986, later landing a high profile job as band front-man for Network Seven’s popular Tonight Live With Steve Vizard show, which ran from 1990 to 1993.

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Balmain Sells Surfers Paradise Development Site at Huge Loss

BALMAIN Trilogy has reported a huge loss on the sale of a beachfront development site at Northcliffe Terrace, Surfers Paradise.

Balmain sold the site to a Sydney investor this month for about $6 million, far less than the $14.5 million it paid at a more buoyant time in Queensland’s real estate market.

The seven-storey 1980s complex, with 20 strata flats is on a 1151 square metre block, and sold with a permit for an 18-level tower with 14 dwellings.

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Biggest US REIT May Pay $150 Million For Melbourne Hotel

THE largest lodging real estate investment trust in the United States may be moving into the Melbourne hotel market.

According to the AFR, Host Hotels & Resorts is eyeing the $150 million Hilton Melbourne South Wharf complex, at the riverside junction that divides the CBD from Southbank and Docklands.  The hotel was listed for sale by private developer Plenary which is expected to maintain some stake in the hotel.

A Host spokesperson confirmed it was “exploring acquisition and development opportunities” in the Asia Pacific.

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Lloyd Williams to Offload Ascot Vale Development Site, Near Flemington Racetrack

MILLIONAIRE entrepreneur Llloyd Williams has quietly listed for sale a horse stable complex opposite the Melbourne Showgrounds, and near the western boundary of the Flemington Racecourse.

In a residential street, the Ascot Vale property is configured as a double-storey home at the front, with equine facilities, at the rear. The commercial component includes 17 stables and an office. The property has rear lane access.

Measuring 1049 square metres, the block is large by inner-city standards, and is being marketed as a residential development site. Apartments within any new project would capture unobstructed city views over the racecourse. Nelson Alexander Ascot Vale’s Andrew Johnston will auction 14 Leonard Crescent at midday, May 14, when it’s expected to sell for between $1.2 and $1.3 million.

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Victoria Has Australia’s Richest and Poorest Average Workers: ATO

SUBURBS in Victoria accommodate Australia’s wealthiest and poorest average workers.

According new Australian Taxation Office research, Portsea (pictured, right), about 90 minutes south of Melbourne, is home to the country’s highest earners in 2008-2009, up from third position a year earlier (those 2007-08 figures were released last year).

The average income for Portsea residents was $198,987 per annum.

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CBA Leases 8500 Square Metres at 357 Collins Street, Melbourne

COMMONWEALTH Bank of Australia has leased 8500 square metres of refurbished office space within the Collins Street building that once acted as Melbourne’s stock exchange.

The lease, for levels 6 to 10, are for an initial 10-year period. CBA is paying rent of $385 per square metre, per annum, presumably prior to incentives (discounts offered off this “face” rent, common in most CBD leases nowadays).

Australand purchased the vacant building from Asian investors last year, which failed to relaunch the building as an apartment project. Sources say that residential conversion would never have worked given the building only has a handful of car spaces.

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Lend Lease Announces $1 Billion Mixed Use Village at Werribee, west of Melbourne

LEND Lease has launched a new $1 billion mixed use village at Werribee, in Melbourne’s middle-western suburbs.

The 438 hectare site will make way for 4000 homes, four schools and a new neighbourhood shopping centre. The first blocks will hit the market in mid 2012, and the project is expected to take ten years to complete.

The price Lend Lease paid for the land has not yet been reported. Below is an announcement by the Sydney-based developer and fund manager.

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Gillon Group Acquires Brighton East Supersite

BAYSIDE developer Gillon Group has quietly acquired a supersite at one of the south-eastern suburb’s busiest corners.

Gillon has negotiated with residential home owners, commercial property owners, VicRoads and the council to amalgamate some seven Brighton East lots into a 7500 square metre development site. At the north-west corner of Nepean Highway and South Road, the site incorporates Barr Street, and former public land.

It plans to rebuild the site – opposite the Kingston City Hall and Moorabbin train station – into a $100 million-plus mixed-use village with around 200 apartments in what could be a seven level tower.

Gillon has not disclosed the price it paid to buy and amalgamate the sites. Local agent sources however value the land at about $2000 per square metre, meaning Gillon’s block could fetch about $15 million if onsold.

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Actors Reg Gorman and Judith Roberts to Sell St Kilda East Apartment

ACTORS Reg Gorman and Judith Roberts are selling a renovated apartment in St Kilda East’s historic Ardoch development.

Built in 1922, Ardoch is reportedly one place Dame Nellie Melba stayed when in town, and where Russian spy Mrs Petrov was hidden.

At 8 Ardoch Avenue (pictured,right), the two bedroom apartment will be auctioned at 11:30am this Saturday and is expected to sell for about $700,000. Marshall White Armadale’s John Manton is the marketing agent.

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John Foreman to Sell St Kilda West Penthouse

MUSICAL director, pianist, composer – and inadvertent television personality – John Foreman is selling a waterfront St Kilda West penthouse.

The three-bedroom apartment, with basement underground parking for two cars, will be auctioned at 12:30pm next Saturday where it’s expected to fetch between $930,000 and $1.02 million.

With a study nook and three balconies, the penthouse at 358 Beaconsfield Parade captures water views from the open plan living/dining room, and one of the bedrooms.

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Major 24-Level Skyscraper Proposed For Footscray

SPOTTING Footscray from the CBD, Geelong, Melbourne Airport, or any building in metropolitan Melbourne with a westerly outlook may be a lot easier from next year.

New planning minister Matthew Guy is reviewing an application for a 24-level, 222-unit complex which, if approved, would be the most ambitious skyscraper ever built in Melbourne’s western suburbs.

The $90 million proposal, which will also include ground floor shops and a five-level underground car park will replace a double-storey factory bound by Moreland and Warde streets, and Neilson Place. The site is west of the Le Mans Toyota dealership which recently sold for $21 million to the state government’s development arm, VicUrban.

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Historic Balwyn Mansion Canonbury For Sale Again

HISTORIC Balwyn estate Canonbury has hit the market again.

Built in the 1860s for leading land and commission broker Edward Lamont, Canonbury at 9 Barnsbury Road has since been owned by businessman John Elliott and former AFL commissioner, the late Ron Evans.

The five bedroom, five bathroom renovated Victorian mansion sits amid a Baron von Mueller designed garden, with a 141-year old Spanish cork oak tree.

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Another Church Bows to Pressure For Medium Density Residential

YET another house of worship is deferring to the medium density redevelopment trend.

This time, in West Footscray, a former Uniting Church on the corner of Ormond and Glamis roads will be pulled down and replaced with 12 double-storey townhouses, in a development called Trugo.

Two bedroom townhouses start from $499,000. Prices rise for three bedroom units, available from $570,000, and the biggest four bedroom homes, which start at $670,000.

JG King Projects is redeveloping the church. Building manager Ryan L’Huillier says Trugo will set a new benchmark for townhouse living in Melbourne’s west.

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Top End Market May be Deflating Faster Than First Thought

MELBOURNE’s top-end may be deflating faster than some agents would have you believe.

In St Kilda West, a historic waterfront four-level mansion with six bedrooms on Beaconsfield Parade has just been discounted to $4.95 million after failing to sell last June for $7 million.

Around the corner in tree-lined Mary Street, Channel Nine managing director Jeff Browne is asking $3.975 million for his outgoing terrace after it failed to sell at auction in February, with price expectations of up to $4.4 million.

At another Mary Street, in Hawthorn, a modern family home was discounted this week to $4.65 million after being advertised for most of the year at $4.95 million.

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One in Seven Dwellings Within City of Yarra Now Public Housing

FOURTEEN per cent, or one in seven dwellings within the City of Yarra council zone is now allocated as public housing.

According to council, there are 5039 public homes out of 35,960 dwellings within the council area – which encapsulates inner-city suburbs of Abbotsford, Carlton North, Collingwood and Clifton Hill.

This compares to mid-2006, when 4923 dwellings (or 13 per cent of homes) were allocated as public housing.

The number of social dwellings is set to surge within the council area – and throughout metropolitan Melbourne and Victoria – according to agents, architects, builders and planners who agree a commission flat building-boom is starting.

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Isaac Brott Sells Stawell Chambers For About $4 Million

STAWELL Chambers, the free-standing, historic office that was for years occupied by solicitor Isaac Brott, has sold.

The building at 493 – 495 Little Bourke Street, opposite the southern boundary of the Supreme Court in Melbourne’s legal precinct is speculated to have traded for about $4 million.

Days after an auction last Friday, a “sold” sticker appeared on a board outside the 121-year old, four-level 650 square metre office (pictured, right). But Savills directors Nick Peden and Clinton Baxter declined to comment on any part of a deal when contacted by The Age.

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Energywatch.com.au Promises Landmark New Sign For Melbourne Steamship Company Building

ENERGY broker energywatch.com.au has leased about 2000 square metres of refurbished office space in the historic Melbourne Steamship Company building at 27 – 31 King Street.

Energywatch will consolidate from four separate Melbourne offices, having signed a lease at King Street for four years, with a four year option. The company recently said it wanted to grow its employee base from 200, to 500, as part of an expansion into other IT businesses. It will pay a starting annual rent of about $500,000.

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Lorna Jane Leases Hundredth Store in Little Collins Street

WOMENS activewear retailer Lorna Jane has chosen a former city boutique to establish its hundredth store.

Established in 1989 by businesswoman Lorna Jane Clarkson, the retailer is embarking on an aggressive growth strategy, saying it wants to open another 25 stores nationally this year.

The 111 square metre shop at 267 Little Collins Street (pictured, right) was recently vacated by Pierucci.

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Non Bank Tenants to Occupy Melbourne CBD Building For The First Time

NON-bank tenants will fill a historic city office building at 287 Collins Street for the first time.

ANZ Bank sold the building (pictured, right) to Brisbane-based Australian Property Growth Fund for $30.5 million in August 2007, but remained an office tenant until 2009 while its new Docklands headquarters was under construction.

APGF has almost finished refurbishing the 10-storey, 5280 square metre office which was built in about 1940 and previously known as the ANZ Royal Bank Chambers.

Leasing agents Colliers International and Savills are marketing the building with asking rents of about $350 per square metre, per annum, before any incentives (a lure offered to tenants, often in the way of a rental discount, or a contribution to office fit-out).

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Dexus Proposes Major New Little Collins Street Office, Melbourne

SYDNEY-based fund manager Dexus Property Group has lodged plans to build a 15-level, 25,000 square metre office building on a forecourt behind its prominent 360 Collins Street office tower in the Melbourne CBD – near the popular Zuffa cafe (pictured).

The proposed new development would be bound by Little Collins Street, Briscoe Lane, and Collins Way, and its office occupants would stare down the McKillop Street restaurant and retail strip.

It could go some way to putting Little Collins Street “on the map” as a major corporate boulevard like part-namesake Collins Street.

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Deague Family Sells Prahran Apartment Site For $5.1 Million

A PRAHRAN petrol station that was to be redeveloped as a ritzy hotel has sold to developers which plan to rebuild the site as a conventional apartment complex.

The 118 – 126 High Street property, on the south-west corner of Thomas Street and opposite Swinburne University, near Chapel Street, was offloaded by the Deague family’s Asian Pacific Building Corporation this week for $5.1 million.

APBC paid $10 million for the High Street service station, along with another Prahran site – a former Bob Jane T-Mart, at 160 Commercial Road – in late 2006.

It planned to build swank hotels on both sites to slot into its “art series” portfolio, which it has been developing over recent years.

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Historic Avalon Mansion Demolished

REGULAR Grand Prix racegoers may notice the historic and former heritage-protected Avalon mansion, near the 13th turn at the bottom of Albert Park Lake, in Melbourne, has just been demolished.

Built in 1903, and on a massive 2323 square metre block at 70 Queens Road, Avalon was designed by prominent architect William Pitt, who also penned the Princess Theatre and Olderfleet buildings, in town, and the Denton Hat Mill building, in Abbotsford.

Avalon (pictured, right) was one of the few mansions dotted within the wider St Kilda Road precinct that survived a commercial office building boom that intensified in the 1980s, but troughed by the 1990s.

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George Jelbart to Sell Hawthorn East Apartment

OLYMPIC rower George Jelbart is selling a renovated two bedroom apartment he bought while at the 2004 Athens Games.

Jelbart, who was a member of the youngest ever rowing crew in the history of the Olympic Games, can expect about $500,000 from the sale of the ground-floor Hawthorn flat at 4 Hill Street.

The apartment includes a private entrance, and video security access. It includes a north facing deck and a pebble courtyard, and is a short stroll to the suburb’s popular St James Park.

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Ilija Grgic to Sell Sunshine House

BULLDOG ruckman Ilija Grgic can expect about $420,000 from the sale of an investment property in Albion – the pocket regarded by residents, and agents, as the nicest part of Sunshine.

The fully renovated three-bedroom weatherboard home in Norwood Street sits on a 607 square metre block and is near Selwyn Park and the Albion train station, some 13 kilometres west of town.

In recent years that train station has been mooted to become a major depot as part of a proposed rail link connecting Melbourne Airport to the CBD, via an existing but largely disused track between Albion and Jacana, which crosses many north-western suburbs.

That Airport rail link proposal would also result in a major upgrade of the Footscray train station – which is just five stops from Albion.

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Village Roadshow Director to Sell South Yarra Penthouse

A MEMBER of the Kirby family, which owns media giant Village Roadshow, is selling a penthouse apartment in South Yarra’s Darling Street.

Clark Kirby, the director of corporate strategy for the family business, is relocating with his new wife, Sara Groen, who was until recently a current affairs presenter with Channel Seven in Sydney.

Ms Groen unwittingly made headlines last year, when Seven executives said her new haircut breached its contract, and ordered she fit hair extensions. She is also an ambassador for youth mental health service Headspace.

The couple’s outgoing penthouse is spread over two levels and includes three bedrooms and three decks. It also includes three car parks, and – perhaps not surprisingly – an entertainment room with a cinema.

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Melbourne’s Riverside About to Undergo Apartment Building Boom

RIVERSIDE Kew and Hawthorn residents share a phenomenon with Williamstown and Footscray residents – whereby eyesore factories on prime waterfront sites are tolerated because “they are better than flats”.

While remediation may prevent redevelopment of some western suburb industrial sites, however, plans are advanced to build new residential villages on former commercial blocks along the Yarra River, and particularly in Abbotsford.

Macquarie Capital is the latest developer to capitalise on the imminent riverside building boom, offering for sale a 5264 square metre block at 16 Flockhart Street with a permit for a 310 unit skyscraper village within a 12-storey complex (pictured, right).

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Manningham City Council Sells Prominent Doncaster Site For $8.92 Million

MANNINGHAM City Council will bank almost $9 million from the sale of a 3113 square metre development site opposite Doncaster Shoppingtown (aerial shot, right).

The 101 – 105 Tram Road site, on the south-east corner of Doncaster Road, has been purchased by an Australian based company whose principals have substantial development experience in Hong Kong and China.

The new owner plans to build luxury apartments on the Doncaster site, capitalising on CBD views availed by its elevated position.

Next door, at 95 – 99 Tram Road, affordable housing service provider Haven is building a 10-level, 98-unit complex. Haven paid $2.86 million for that site in 2009.

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Schwartz Family Corporation to Sell 499 St Kilda Road

AUSTRALIAN hotel owners Schwartz Family Corporation are selling a major St Kilda Road development site bordering Fawkner Park.

The family can expect around $53 million from the sale of The Fawkner Centre at 499 St Kilda Road, Melbourne, near the corner of Commercial Road, which acts as the Prahran and South Yarra suburb border.

The 6070 square metre site includes a 19-level, 21,377 square metre office pictured, right) that currently returns annual rent of $5.9 million.

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Next Southbank Skyscraper Set to Rise From Clarke Street

SOUTHBANK’s next prominent apartment skyscraper will rise from 58 Clarke Street, after local developer Vicland purchased the site in an off market deal.

The 540 square metre block on the south-west corner of Hancock Street sold with a permit for a 33-level, 147-unit skyscraper, which upon completion will appear to abut the Kings Way offramp of the West Gate Freeway.

Apartments within this complex will capture the million-dollar CBD views currently afforded to commuters passing Southbank via that freeway, near Clarendon Street.

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Rove McManus Lists Richmond Home For Sale

Entertainer Rove McManus is taking advantage of the mismatch between Australian and United States property prices, listing his grand $3.5 million Richmond home for sale – after recently spending $1.2 million on a Los Angeles one.

Howlands, on Docker Street sits on a 383 square metre block and includes four bedrooms, a study, pool and cellar

Neighbours tell Secret Agent the home has quietly been marketed for private sale since earlier this year. However Howlands will now be auctioned via Jellis Craig Richmond.

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Rove McManus sells Richmond mansion for $3.4 million

ENTERTAINER Rove McManus has sold his Richmond home for $3.4 million – returning a nifty profit on the $1.9 million he paid in 2003.

McManus, who recently moved to the US and paid $1.2 million for a house in Hollywood, listed the 144-year old Docker Street home for sale earlier this year.

It was advertised to sell for about $3.5 million, and was deemed “on the market” when bidding hit $3.31 million.

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Prominent Brighton Pub to be Redeveloped as Flats

PLANS to redevelop Brighton’s historic Khyats Hotel into an apartment village are proceeding.

The pub, at 21 – 25 Wilson Street, raised eyebrows in late 2009, after the Victorian Civil and Administrative Tribunal made the highly unusual decision not to raze the historic building, as part of a residential redevelopment.

The Bayside council and former planning minister Justin Madden previously refused to put a heritage overlay over the hotel, which is opposite the Brighton Town Hall and Clocktower Theatre.

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Ex St Kilda Footballer to Sell Malvern Home

RECENTLY retired St Kilda footballer Andrew Thompson is selling a fully renovated family home in Melbourne’s ritzy Malvern.

Andrew, with wife, Sophie, can expect the Jordan Street house to sell for between $1.7 million and $1.8 million at auction next month.

On a 496 square metre block the home includes four bedrooms, an open plan living/kitchen/meals, a paved entertainment deck, and a landscaped backyard with a north-westerly aspect. The home is wired for surround sound.

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FKP to sell 399 Lonsdale Street

QUEENSLAND-born developer and fund manager FKP has quietly listed another major CBD asset for sale.

FKP, which recently relocated its headquarters to Sydney, can expect some $35 million, sources say, for the fully-leased office at 399 Lonsdale Street.

The 10-storey building, on the south-west corner of Hardware Lane, was developed in 1986 and fully refurbished in 1993 and 1997. It includes 10,176 square metres of office space, and is fully leased to education service provider Taylors College.

In recent years, the top of the city has become a private education service hub. Last March, education entrepreneur Shesh Gale, owner of the Melbourne Institute of Technology, paid $15 million for the historic Argus building at the north-west corner of La Trobe and Elizabeth streets, which will reopen as a school after a refurbishment.

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VicUrban Pays $7 Million For Cheltenham Site

STATE government arm VicUrban has paid a speculated $7 million for a major development site in bayside Melbourne – and strategically aligned itself to acquire a much bigger site, next door.

The 15,000 square metre site VicUrban has just purchased at 329 Bay Street, Cheltenham (pictured, right), houses buildings where fighter planes were manufactured in the second world war.

The new site abuts a unique rectangle-shaped CSIRO’s facility that stretches almost the full distance between Bay and Highett roads. In recent years it’s been speculated this massive site will be vacated, and rebuilt as housing, with VicUrban always touted as one possible developer.

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Gillard-Rudd Laws Lock Australians Out of Residential Market

IT’s every first-home-buyers worst nightmare coming true – and the trend may just be starting.

Because of hugely controversial foreign ownership laws introduced by the Rudd-Gillard government three years ago – agents say local investors have not been offered to purchase apartments within a major residential skyscraper under construction at the tip of the city, near Flagstaff Gardens.

The 206 A’Beckett Street tower, on part of the former City Mazda site near the Queen Victoria Market car park, is being developed by Malaysia-based investors which paid Drapac $5.3 million for the 1194 square metre block in October 2008.

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Brad Green to Sell Brighton East Pad

NEWLY appointed Melbourne Football Club captain Brad Green is torpedoing out of Brighton East.

The 30-year old athlete, who as a teenager was scouted by the Manchester United soccer team, made his debut with the Demons in 2000.

His outgoing home, in Lansdown Street, sits on a 221 square metre block near Landcox Park and the Bay Street and Gardenvale Road retail strips.

The home, one of two units on the block, includes three bedrooms, the master with ensuite and storage. It also includes two courtyards, a lock up garage, driveway and separate laundry.

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Ed Phillips to Sell Murrumbeena Property, Melbourne

TELEVISION and radio personality Ed Phillips is selling his Murrumbeena pot of gold.

Phillips, who is based in Sydney nowadays, began his career with Melbourne’s Triple M some 20 years ago. Since then he’s also been a sports presenter at Nine, a regular on Good Morning Australia and a host, of axed shows Battle of the Sexes and most recently Temptation, alongside Livinia Nixon. Pot of Gold is another.

Married to Nine News Sydney weather presenter Jaynie Seal, Phillips is a roving reporter for morning television show The Circle.

His outgoing investment property at 5/1 Howe Street is expected to fetch between $450,000 and $490,000 when it is auctioned next Saturday.

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Mark Viduka to Sell Williamstown Property, Melbourne

SOCCER legend Mark Viduka is selling an investment property near the Williamstown waterfront.

The 35-year old recently retired athlete – also known as Big Dukes and V-Bomber – can expect between $1.5 – $1.6 million for 79 Nelson Place, a tri-level, four bedroom townhouse (pictured, right), which is being auctioned next month.

Viduka, who is married and has three sons, recently retired from the sport, though there is growing speculation of a career return with the media or as a coach.

In February, he was awarded the prestigious Alex Tobin medal by the Australian players’ union, the PFA. Amongst his other achievements, was captaining national football team the Socceroos, and Australia, at the 2006 World Cup in Germany.

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VCAT Cans Plans to Make Melbourne’s Tallest Suburban Tower Even Taller

WITHOUT the previous government’s contentious Melbourne 2030 planning document to refer to, VCAT has canned an ambitious proposal by the owners of South Yarra’s Fun Factory site to make the suburb’s tallest proposed skyscraper, even taller.

The rejection means the main residential tower at the $150 million Capitol, South Yarra project (pictured, right) will rise “just” 38 levels and 133 metres.

This would still make it the tallest residential building outside of the central inner-city, loosely defined to include Southbank, Docklands and, now that it will have its own skyscraper compound, Carlton. The Royal Domain Tower, at the Domain junction, rises 152 metres.

VCAT approved a 38-level redevelopment of the Fun Factory in 2009. That approval will see a historic building at the north-west corner of Toorak Road and Chapel Street demolished and replaced with a mixed use project including 7500 square metres of offices, 4400 square metres of retail space, 496 car parks, 120 bike spaces and 204 flats, in the proposed major skyscraper.

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Lorne Country Club Redevelopment to be Known as Osprey

AFTER almost eight years of negotiation with various government bodies and the Lorne Golf Course, the development of a major multi-million golf resort is set to begin.

The Lorne Country Club redevelopment – now to be known as Osprey – should start construction this year and be completed by early 2013.

The ambitious redevelopment will see the existing nine-hole golf course expanded to an 18 hole course, designed by Thomson Perrett. The course will include a 1760 square meter clubroom.

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Victorian Police Association Sells 46.5 Hectare Coldstream Site

THE Police Association has snaffled a reported $2 million from the sale of a 46.5 hectare block of land abutting the outer north-eastern township of Coldstream.

The site (pictured, right), which was marketed throughout the summer by agency RT Edgar as “The Police Block”, is currently used for grazing – but is said to have attracted interest from developers, and land bankers, being on the edge of the Urban Growth Boundary.

Melbourne’s UGB – a controversial invisible line dividing where builders can and can’t develop – was revised several times by the previous state government, much to the delight of developers who bought land cheap, outside the zone gambling when the government would run out of room to zone as housing, and need them.

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Council Rejects 36-Level Russell Street Proposal, But Nearby 55 Level Tower Will Proceed

IT’S back to the drawing board for the owners of Russell Street’s Rido House office, after the Melbourne City Council refused its application to replace it with a 36-level tower.

The council blamed height, setback, wind impacts, general amenity to adjacent buildings and an excessive site plot ratio as reasons for rejecting the proposal.

However – and as is increasingly the case in Melbourne planning – the developer has appealed, and the matter is currently being heard by the Victorian Civil and Administrative Tribunal.

If approved, the 42-year old office on a compact 381 square metre block at 276 – 284 Russell Street will be replaced with a 117-metre tower with 154 flats or hotel suites, but no car parks.

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Arthouse Cinema Coming to Hawthorn

TRAFFIC in busy Glenferrie Road looks set to intensify if the Boroondara council approves an application to redevelop a dank, part-vacant arcade into a new shopping centre, topped by a 1050 seat arthouse theatre and a 100-seat rooftop cinema.

Independent theatre operator Eddie Tamir has applied to rebuild The Glen arcade at 673 – 681 Glenferrie Road, Hawthorn, with The Lido, a new ITN Architects designed cinema complex.

Tamir owns Belgrave’s Cameo Cinema and is a co-owner of renovated movie house The Classic, in Elsternwick.

With his father David, who owns Prahran’s Station Hotel and the Argo, in South Yarra, Eddie paid $15 million for the double-storey Hawthorn facility last August.

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More Northcote Land Rezoned For Residential Use

THE suburb that recently topped a survey assessing Melbourne gentrification levels is continuing to evolve.

Northcote, five kilometres from town, has had a major rezoning approved which will see prominent factories that only a generation ago helped define the suburb, bulldozed and replaced with cafes, shops and apartments.

The rezoning will see the precinct’s residential and retail precinct spill over from High Street into Arthurton Road – and in particular a busy thoroughfare full of factories which connects the strip to the Northcote train station.

Northcote and Maribyrnong, in the north-west, have experienced the most rapid gentrification in Melbourne since 2001, according to a study conducted by the Australian Housing and Urban Research Institute at Swinburne and Monash universities.

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Golden Group Pays $36 Million For 64 Hectare Tarneit Development Site, Melbourne

FOR Melbourne’s newest millionaire farmer, the west has proven lucky in more ways than one, with Perth-based development giant Golden Group revealed as the buyer to pay $36 million for the Tarneit farm once known as Shanahans House, and later, Wyndham Park.

The 64 hectare estate, some 28 kilometres of town at 1070 Sayers Road, was one of the first major farms publicly listed for sale after the former state government significantly expanded Melbourne’s Urban Growth Boundary by some 46,000 hectares last June.

That expansion, which built on a 23,000 hectare expansion a year earlier, allowed for new homes to be developed on what was previously Green Wedge land, parkland and rural zoned properties.

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Local Resident Outmuscles Developers For Prominent Kew Site, Melbourne

THE street may share the same name as redundant, pro-development Planning Minister Justin Madden.

But around ritzy Madden Grove, Kew, residents value the character of their streets – and are prepared to pay to avoid being overrun by medium density development.

In an extraordinary deal, a local resident has paid a speculated $9 million for the former University of Melbourne Early Childhood Development campus, which the school sold 12 years ago, and was to become that suburb’s next major apartment complex.

The imposing property at 6 – 12 Madden Grove has been handpassed to a variety of developers since 1999. What was a 4973 square metre campus that started at #2, was sliced to become a 3502 square metre site, which was offered for sale late last year.

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Prominent Docklands Development Site Listed For Sale

A PROMINENT Docklands development site has hit the market after years of frustration from real estate agents, who claim never to have been given the opportunity to offer the site to their clients.

Victoria’s new planning minister Matthew Guy has ordered VicUrban list for sale a major 2 hectare ste at the corner of Collins and Flinders streets.

VicUrban had previously give nmanagement control of the site to developer Sama Dubai, but a proposed $1.5 billion redevelopment, which was to have included a 60-level tower, was never marketed. The site abuts Lang Walker’s precinct of the multi-billion Docklands redevelopment.

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MAB Launches $350 Million Docklands Towers

ANOTHER year, and MAB Corporation is releasing another major Docklands project.

This time, the development – The Quays – will include two towers.

A south tower will rise 32 storeys and include 275 units. It will be the tallest building in MAB’s 5.3 hectare Docklands pocket.

A north tower will include 230 flats. At ground level, a walkway aims to create a new retail laneway, with cafes and shops.

The project (artist impression, right) will also include 95 serviced apartments. Residents within The Quays will be able to utilise hotel functions like a spa, pool, sauna, health club, gym and yoga studio.

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Katherine Place Complex Sells For $16.35 Million

ESTABLISHMENT family the Smorgon’s have sold a Melbourne CBD office for $16.35 million.

The Katherine Place complex at 517 – 537 Flinders Lane was developed in the 1980s by the Becton Group and includes two buildings, known as 517 – 525 Flinders Lane (rising four levels and with 5609 square metres) and 533 – 537 Flinders Lane (a smaller four-level 1556 square metre office).

Both assets are flanked with ground floor retail. Private investor Brendan Sullivan has been reported as the buyer, purchasing the asset on a low yield of 6.2 per cent.

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Melbourne Ghost Office Sells to Chinese Investor For $45 Million

ONE of the Melbourne CBD’s few remaining ghost towers has sold to a Chinese developer for $45 million.

The 21-level Communications House at 199 William Street (right) includes a 19,500 square metre office that has been vacant for more than ten years. The asset was offloaded by another Asia based investor with the registered company name Memo Corporation.

The building’s site area is 3318 square metres and the building is in the heart of what is known as the Melbourne CBD legal precinct. It’s residential redevelopment potential was touted throughout marketing.

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Grocon Unveils Carbon Neutral, Wooden Inner-City Apartment Complex

MELBOURNE based developer Grocon has unveiled plans for a carbon neutral apartment complex built entirely from timber.

The complex, Delta (pictured, right) will be developed on the former Carlton United Brewery site, on the Carlton-CBD suburb border.

Delta will include 50 flats, and be one storey taller than a similar tall timber structure, the Stadthaus in Hackney, East London, which currently holds the title as the tallest building of its type in the world.

Copied below is a Grocon statement about Delta:

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Coles to Sell Target Centre, Bourke Street, Melbourne

WESFARMERS owned retail giant, Coles Group, is expected to make about $100 million from the sale of a prominent Bourke Street retail complex in the Melbourne CBD.

Coles will sell the 1982 Target Centre building (pictured, right) with a 20 year lease to Target. The complex also includes speciality retail stores, currently leased to Jetstar and Monash University.

Coles is expected to spend funds raised from the sale into its supermarket operations.

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Australia Post to Sell Prized Melbourne Asset

GOVERNMENT owned goods and services provider Australia Post is offloading its most prized Melbourne asset – the former Australia Post Mail Centre on the south-west corner of Spencer and La Trobe streets.

The 1.2 hectare property, with a 10,400 square metre building, is being offered with vacant possession after a reported lease to hardware chain Bunnings last August did not proceed.

Wesfarmers controlled Bunnings is moving to multi-level inner city sites as part of a strategy to boost its inner-city presence, and outmuscle new Woolworths controlled rival, Lowes.

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Mount Macedon Hotel Sells For $1.74 Million

MOUNT Macedon is no longer a town without beer.

The abandoned Mount Macedon Hotel, described by Macedon Ranges councillor Helen Relph as the soul of the mountain, sold for $1.74 million at auction on Thursday to a local who plans to re-open it as a drinking hole.

The pub closed in 2005 when its license holder Xavier David Holden was suspended for breaching the Liquor Control Act.

At 694 – 696 Mount Macedon Road, the 2.15 hectare property includes a hotel, accommodation sheds, a three bedroom home, and land for redevelopment.

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Council Adjusts to Being Landlord Snaring APT as Tenant

FIVE months after paying ING a speculated $22 million for the prominent Cheltenham office it was renting (pictured), the City of Kingston council has snared one of Australia’s biggest tour providers as a tenant.

Australian Pacific Touring – more commonly known as APT – has quit its 36-year headquarters at Hampton Street, Hampton, and will move to the 1230 Nepean Highway office known for years as the Fujitsu building.

APT, which established locally in 1920, will lease 3200 square metres of B-grade offices space, paying a speculated $200 per square metre, per annum in rent.

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Iconic Bookshop Returns to Melbourne CBD After Hiatus

WEATHERING the rise of what it called (in a 1993 Age feature) the “big boy” retailer – boffin retailer The Little Bookroom has leased space on the same block its bullish rival, Angus & Robertson may soon be moving out of, after going into administration last week.

The Little Bookroom has leased a 30 square metre shop in Degraves Street, one of Melbourne’s most popular and expensive laneway retail strips.

In doing so The Little Bookroom returns to town after a six year hiatus.

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Major Riverfront Footscray Site Hits The Market

IT’S bad enough if the site next-door to the one you just bought gets listed for sale, targeting developers.

It’s worse when you just spent $21 million of taxpayer money, and if the redevelopment next door robs the million dollar views you planned to exploit in your own marketing.

Sadly this is what’s happening on the Footscray waterfront right now.

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Forza Capital Pays $14 Million for Cheltenham Office, Melbourne

ONE of Melbourne’s bigger mid-suburban office sales this year has quietly taken place in Cheltenham.

Property investment group Forza Capital has paid private developer Glenuc $14 million for 294 Bay Road, which includes a new 4,772 office building, and 4900 square metre adjoining development site.

The office is leased to service provider iSelect and will initially accommodate 320 of its employees. iSelect has an option to occupy a 10,000 square metre office earmarked for the vacant block.

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Dennis Family Pays Reported $30 Million for Clyde North Development Site, Melbourne

ADVANCE to Clyde-Five Ways Road, about 45 kilometres from town, if you want to know where Melbourne’s south-east suburbs have sprawled to – and will soon overrun.

A swag of farms and major homestead estates listed for sale along the soon-to-be-major road last year, sold over the festive break.

The “farm sale” trend is not novel to the south-east, where large parcels are also selling around Langwarrin, Pearcedale and Skye.

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