Former Vision Australia Site, Prahran to be Redeveloped into $68 Million Village

Melbourne-based asset manager Gersh Investment Partners – owner of Campbellfield’s Pipeworks Market – is redeveloping the Prahran site with consortium partner Pomeroy Pacific, a privately owned development company. Representatives for the consortium were unavailable for comment when contacted by Secret Agent.
 
Gersh and Pomeroy paid Vision Australia $25.1 million for the Prahran office facility, and an adjoining block of land in December 2007, but negotiated a long settlement, while it sought to obtain relevant redevelopment permits.
 
Elsewhere in the area, VCAT also recently approved a 38-level building proposal on the north-west corner of Toorak Road and Chapel Street in South Yarra, which will replace the existing Capitol Bakeries building.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

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