Office of Housing Buys Former Box Hill Aged Care Facility

287 Station StreetTHE Office of Housing has paid close to $4 million for a disused aged care facility in Box Hill.

Dwellings on the 2480 square metre site, opposite the Box Hill Tennis Club and near the Surrey Hills and Burwood suburb borders, are expected to be refurbished before being made available to public housing tenants.

The purchase continues a trend of the Federal Government, and associated public housing service providers snapping up prevalent development sites all around Melbourne and Victoria.

Some of the biggest public housing projects are currently under construction in Abbotsford, Ashwood, Carlton, Ringwood and Wonthaggi.

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Asia Based Investor Buys Second Victorian Golf Course in a Month, Major Redevelopments Planned

FOR the second time this month, an Asia-based developer has purchased a prominent Victorian golf course, and is proposing to build a $55 million hotel, apartment-based complex and new 18-hole golf course, next door.

An as-yet-undisclosed syndicate, which will be part controlled locally, is understood to have paid more than $7 million for the massive St Andrews Beach Golf Course and Resort, on the Mornington Peninsula.

As well as the Gunnamatta course, a temporary club room and 20 apartments, the purchase includes an adjoining development site, which will yield another 18-hole course, club room, 40-room hotel, licensed commercial premises, and about 120 apartments.

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ALP Considers Selling Prominent VicRoads Headquarters, Kew

John BrumbyTHE Victorian State Labor government is continuing to offload its most spectacularly located real estate assets, with a major site in ritzy Kew expected to wind up in the hands of residential developers – possibly as early as next year.

The Department of Treasury and Finance is understood to have employed a private consultant to conduct a feasibility study into the future use of the 60 Denmak Street office site, currently occupied by government agency VicRoads.

A confidential Request for Quotation seen by The Age suggests moving VicRoads staff within three to four years.

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Top Melbourne Suburbs to Invest, For Budgets of Less Than $500,000

Flemington Post OfficeMELBOURNE’s once booming real-estate market has finally decelerated – and for the first time in a long time, buyers are calling the shots.

If you have a secure job, low debt and a will to own real estate – banks, developers and the Government want to talk.

But a word of advice: if you do take the plunge, spend what you can afford, rather than the maximum amount you can borrow.

Saturday Domain talks to some experts on which suburbs you should look at, no matter what your budget:

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Will buyers be forced into apartment living?

Anyone who played (or plays) the computer game Simcity would understand the predicament Melbourne planners are in right now.

On the one hand, Melbourne’s population is growing – with some more ambitious estimates suggesting by 1000 people a week. New residents are coming from interstate (particularly Sydney and Brisbane) and overseas (New Zealand, United Kingdom). Many new residents are professional, high income earning professionals who may see Melbourne’s real estate market as relatively affordable.

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Shaping the future of Melbourne

Battle lines have been drawn in the sand as planners and protest groups debate our sprawling suburbs. Marc Pallisco reports.

The
contentious Melbourne 2030 planning controls continue to divide the
community. On the one hand, some industry experts warn Melbourne could
become another overextended Los Angeles if we don’t halt the urban
spread. Meanwhile, protest groups in suburb after suburb complain of
higher-density living being foisted upon them. They claim their
neighbourhoods are in danger of losing their character.

Somewhere in between these factions may be the future Melbourne.

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