Victoria 

Gillon Group Acquires Brighton East Supersite

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BAYSIDE developer Gillon Group has quietly acquired a supersite at one of the south-eastern suburb’s busiest corners.

Gillon has negotiated with residential home owners, commercial property owners, VicRoads and the council to amalgamate some seven Brighton East lots into a 7500 square metre development site. At the north-west corner of Nepean Highway and South Road, the site incorporates Barr Street, and former public land.

It plans to rebuild the site – opposite the Kingston City Hall and Moorabbin train station – into a $100 million-plus mixed-use village with around 200 apartments in what could be a seven level tower.

Gillon has not disclosed the price it paid to buy and amalgamate the sites. Local agent sources however value the land at about $2000 per square metre, meaning Gillon’s block could fetch about $15 million if onsold.

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Victoria 

Malon Lodge, Prahran, Could Wind up in The Hands of Residential Developers

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A HUGE property in Prahran, Melbourne, listed for sale as an investment, could wind up in the hands of residential developers, cashing in on the current inner-city high density building boom.

The Malon Lodge in tree-lined The Avenue, is expected to sell for about $2 million.

Currently configured as a 24-room special accommodation home, O’Donoghues First National Camberwell’s Fred Barlett is selling Malon Lodge with a lease to the hospital operators until 2013, with renewal options.

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223 High Street
Victoria 

Zagame Buys Prahran Residential Development Site

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223 High StreetBUSINESSMAN and hotelier Robert Zagame, of the Zagame Group, is believed to have paid about $1.725 million for a Prahran development site.

The 295 square metre property at 223 High Street, was sold with a permit for an $8 million, five-level, seven-unit apartment complex, with a ground floor showroom.

However it’s speculated Mr Zagame will revise that application to include around 20 one-bedroom units or studios.

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Chapel Street, Prahran
Victoria 

Vision Australia Sells Prahran Site For $21 Million

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Chapel Street, PrahranDeveloper Caydon Property has agreed to pay Vision Australia $21 million for a Prahran site with a permit for a major apartment complex.

Vision Australia had agreed to sell the property, and another development site behind it about two years ago, however that deal did not proceed.

The front piece of land, which has just sold, is expected to be developed into a 330 unit apartment complex with ten ground floor shops, according to CBRE’s Mark Wizel and Andrew Dawkins, who marketed the site.

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Victoria 

Health Group Pays $17.1 Million For Hawthorn Office

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RESIDENTIAL developers keen to get their hands on a prime 4152 square metre (or an “acre”) site abutting the Hawthorn train station have been left disappointed, with an owner occupier snapping up the Burwood Road property for $17.1 million.

Colliers International director Rob Joyes, who sold the 50 Burwood Road office with Peter Bremner, said a health-related group will redevelop the building into a specialist medical centre.

The 5246 square metre office building was marketed with a permit for a 2500 square metre extension, and included 174 car spaces.

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Victoria 

Former VECCHI Building, Abutting Hawthorn Train Station, to Reap $17 Million

HAWTHORN’s former Vecchi office building at 50 Burwood Road will be put to the market, and is expected to sell for about $17 million.
 
The 5,000 square metre office, which hugs the western edge of the Hawthorn train station, will be sold with a permit for a 2,500 square metre extension.
 
Colliers International director Rob Joyes said he expects the site to arouse interest from residential developers, as well as investors, because of a flexible zoning that would allow a straightforward conversion into apartments, presumably with ground floor retail.

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Cremorne Office
Victoria 

Richmond’s Tallest Office Earmarked For Viva Plastics Site on the, Monash Freeway Onramp

Cremorne OfficeRICHMOND’s tallest office building will be developed on a site at the busy onramp between Punt Road and the Monash Freeway.
 
The Victorian Civil and Administrative Tribunal has given Melbourne-based developer Caydon the green light to build a nine-level office on the site of the former Viva Plastics warehouse, on the north-east corner of Harcourt Parade and Cremorne Street, next to the famous Nylex sign and silos.
 
Caydon paid $6.15 million for the prominent 3,050 square metre Richmond site last July.

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