New South Wales 

Crown International Holdings Group Pays $27 Million For North Sydney Development Site

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CROWN International Holdings Group has paid $27 million for a North Sydney development site with plans and permits for a 180-unit apartment complex.

The 1600 square metre site at 211 – 223 Pacific Highway will be added to the portfolio of the Sydney-based builder, which according to the AFR, controls some $1 billion worth of apartments in local developments in Parramatta, Rhodes and above the Top Ryde City shopping centre in Ryde.

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Victoria 

CGA Bryson to Sell Camberwell Development Site

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LOCAL developer CGA Bryson is selling a prominent Camberwell development site it bought just 15 months ago.

Opposite the City of Boroondara council offices, and the Camberwell Civic Centre, the 4383 square metre site at 347 Camberwell Road (aerial shot of site, pictured, right) is being offered with a permit to develop an 8277 square metre office building. Commercial office rents in Camberwell are amongst the most expensive in suburban Melbourne, achieving more than $300 per square metre, per annum in some cases.

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New South Wales 

Sydney CBD’s $6 Billion Barangaroo Redevelopment Set to Start Construction After Years of Protest

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NEW state premier Barry O’Farrell will personally supervise the controversial $6 billion Barangaroo urban renewal project, set to replace industrial land –  part of a Sydney Harbour container terminal, that ceased functioning in 2003.

The waterside project will include a compound of skyscrapers, one being a hotel that will jut into the water, in a copy of Dubai’s Burj al Arab tower.

The redevelopment was lobbied against by Greens groups and local councils, as well as wealthy Sydneysiders whose views will be lost. Protesters argued planning approvals were flawed, and resulted from the “mates” culture of the previous state Labor government.

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New South Wales 

Australand, LaSalle Pay $35 Million For Clemton Park Development Site, South-West Sydney

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LISTED institution Australand Property Group with partner LaSalle Investment Management, have paid about $35 million for a 5.5 hectare development site in Sydney’s south.

The Clemton Park site (aerial of the suburb, right) sold with a permit. It’s expected to deliver about 700 dwellings over a five to six year period.

Construction company Parkview sold the site, some 15 kilometres south-west from the Sydney CBD and near Earlwood, Kingsgrove and Campsie and not far from the city’s international airport.

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Victoria 

Deague Family to Sell Petrol Station Turned Development Site, Prahran

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AFTER canning plans to develop a ritzy hotel, local development family the Deague’s are selling a petrol station-turned residential development site in Prahran.

The small site, at the south-west corner of High and Thomas streets, is opposite Swinburne University’s Prahran campus, and walking distance to retail mecca Chapel Street – which commands the highest retail rents of any inner-city shopping strip.

The Deagues purchased the 118 High Street site about four years ago with plans to build a hotel, the Larwill, as part of its “art” series chain.

However, like many projects by the Deague family’s Asian Pacific Building Corporation, it’s been canned. The site is expected to sell at a premium given it now has a permit – prompting speculation the wealthy family is property speculating.

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Brighton Beach
Victoria 

Coles Group Buys Piece of Major Brighton Mixed Use Village, Melbourne

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WESFARMERS owned Coles Group is speculated to be paying around $13 million for an as-yet-undeveloped, approximate 4200 square metre supermarket in the ritzy Bay Street, Brighton retail strip.

Sources say Coles is purchasing the space off ASX listed Abacus Property Group, which is proposing a mixed use village for the site on the south-west corner of Male Street.

The property, for a couple of years now a block of dirt behind a fence, was earmarked for a $38 million office and retail complex, however it’s understood a new complex with a residential component is now proposed.

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Victoria 

Ultra Tune Buys Strata Office in Stockland’s Tooronga Redevelopment

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DESPITE a job in which driving luxury cars is a perk, Ultra Tune boss Sean Buckley doesn’t want to travel for too long, to get to work.

Mr Buckley will relocate the company’s headquarters from Box Hill, to Glen Iris, after paying a speculated $2.4 million for a 400 square metre strata office suite, part of Stockland’s massive $500 million Tooronga Village redevelopment, about nine kilometres south-east of town.

Even though development at the Glen Iris site has been rampant in recent years, Stockland is only into the first redevelopment stage, of five.

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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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Geoffrey Rush
Victoria 

Controversial Planning Policy Claims Eastern Suburbs Most Prized Development Site

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Geoffrey RushTHE CONTENTIOUS planning policy that eastern suburb-based actor Geoffrey Rush warned in 2004 “would fundamentally alter the tone and character of Melbourne in a way that I don’t believe people are quite aware of” has finally claimed the eastern suburb’s most prized development site.

The Camberwell Station redevelopment – one of the earliest and highest profile planning disputes to arise after the 2002 Melbourne 2030 blueprint (since turned into the Melbourne @ 5 Million planning policy) – should see construction start this year.

Boutique builder Arno (a brand of the developer reported previously as Tenterfield) is accepting registrations of interest for apartments in a major new development, The Place.

 

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Western Australia 

WA Government Appoints Delfin Lend Lease Preferred Developer For Alkimos Community Development

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THE West Australian government has named Delfin Lend Lease as the preferred developer for the first stage of the 710 hectare Alkimos Community development, 40 kilometres north of Perth.

Alkimos will be Delfin Lend Lease’s first major project in WA, despite establishing in the state two years ago.

Perth based Satterley Property Group and Mirvac were also shortlisted to buy the site, the AFR reports.

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Victoria 

DFO Owners Buy Chadstone Bulky Goods Development Site

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THE owners of discount outlet chain DFO have been revealed as the buyers of a prominent bulky goods development site near the massive Chadstone Shopping Centre.
 
Peninsula Development Group, a privately owned development company controlled by David Goldberger, Sam Fink and David Weiland is expected to develop a $20 million bulky goods shopping centre on the 675 Warrigal Road site, until recently home to chemical services company Clariant.

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National 

Westfield Group Announces Solid Growth in Operational And Development Earnings

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The Westfield Group (ASX:WDC) today announced its full year results, reporting operational segment earnings for the year ended 31 December 2007 of $1.79 billion, up 11.6% over the prior year.  This represents 96.12 cents per security, an increase of 6.0% on a constant currency basis.

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Victoria 

Foster’s Sells Another Site Near Abbotsford Brewery, Development Wave Underway

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The Foster’s Group has made $8.3 million from the sale of another industrial property in the inner north-eastern suburb of Abbotsford. The property was sold separately from a portfolio of eleven other Abbotsford properties offloaded by the brewer last year to Charter Hall, for around $41 million.

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Western Australia 

Ray White Invest & Blair Group Buy Currambine Marketplace, Perth, For More Than $50 Million

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Specialist direct property funds management group Ray White Invest and private retail developer Blair Group today announced the joint acquisition of the Currambine Marketplace in Perth from Woolworths Ltd for in excess of $50m with proposed expansion plans to significantly increase the value of the property.

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