More Commission Flats for Abbotsford

The remaining 34 apartments hit the market for private sale this week.

CEHL will use moneys raised from the privately sold apartments, to fund construction of the public flats.

The 203 – 205 Gipps Street site sold to CEHL for a speculated $4.7 million during the economic downturn.

Other activity in the immediate precinct includes the re-opening of the Denton Mills building as a residential and retail development, after its use last century as a hat factory.

The former Kevin Dennis Motors and sales delivery centre on the corner of Victoria and Nicholson is also being developed into Hive, a mixed use complex incorporating two large supermarkets, shops, and upper-level townhouses.

Also in Abbotsford, builder Hamton is proposing to replace a riverfront office in Victoria Street, opposite Victoria Gardens, with apartments.

The biggest commercial property in Abbotsford – the Carlton & United Breweries facility – has also been speculated will be sold to residential developers at some stage, after Fosters sold a collection of riverfront sites around the imposing Church street building about three years ago.

Earlier, CUB sold its inner-city Sydney brewery for $208 million to Singaporean developer Frasers Property, which last year lodged plans to build a mixed use village with apartment and office towers, on the site.

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Marc Pallisco

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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