Hong Kong Listed Developer Far East Consortium to Sell Controversial Melbourne Development Site

Far East’s proposal at Northcote, for 73 apartments and 18 townhouses, was called in by Planning Minister Justin Madden last year, meaning it bypassed the community consultation process.

The company, whose global business is in development, hospitality and car park operations, is currently marketing the $1 billion Upper West Side complex, on the south-east corner of Lonsdale and Spencer streets, opposite the old Age site in the CBD.

Planning Minister Justin Madden also approved that controversial development, last month.

Upper West Side will add about 2500 apartments, and some 7500 residents to the long-abandoned city block.

CB Richard Ellis agents Sebastian Drapac and Paul O’Connell are marketing the Northcote site with Colliers International’s Theo George and Shane Darque.

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Marc Pallisco

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