Lend Lease, Frank Hargrave, to Develop Major Residential Village on SKM Site, Overlooking Toorak Park

Sources speculate the Armadale property could make way for several high rise apartment towers that would capitalise on park and city views. They say the project could have an end value of more than $200 million, but the proposed scale could not be confirmed with Lend Lease.
“A master planning process and review of optimal site uses will be undertaken prior to lodging a planning permit application, and the joint venture is committed to involving the local community and stakeholders in the planning process,”” Lend Lease general manager – business development Maurice Cococcia told Capital Gain. 
The property has been identified as a large redevelopment site by the City of Stonnington in its Strategic Framework Plan, and a potential residential development site by the State Government’s Urban Development Program.
Colliers International director Rob Joyes, who is speculated to have introduced Lend Lease to Larkfield, declined to comment.
Larkfield’s commercial portfolio also includes assets in Port Melbourne, Box Hill and the western suburbs, according to sources.
Low rise offices on the Orrong Road site have been occupied for years by engineering science and project delivery giant Sinclair Knight Merz, which is speculated will relocate to about 12,000 square metres at 452 Flinders Street.

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Marc Pallisco

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