Baycrown is believed to have paid about $2.75 million for the 469 – 481 High Street site in 2005. Its other developments in Melbourne include the Home@Flinders student accommodation complex in the CBD, a 428-lot subdivision in Pakenham, and a 38-unit apartment complex in Doncaster.
Elsewhere in the area, Victoria Road’s Northcote Bowl complex will be replaced with a 96-unit apartment project. A part of the Northcote Shopping Plaza, abutting the All Nations Park is being developed into a 10-level tower, while the former Northcote Pottery site, which is actually in Thornbury, is making way for townhouses.
After dwindling membership, the former Preston Bowls Club, two suburbs north of Northcote, following St Georges Road, was sold for more than $3 million earlier this year. Its new owner has lodged plans to redevelop that site into a 4-level, 104-unit complex.