Victorian State Government Reaps $16 Million From Education Sites
AS TEACHERS and the cashed-up education unions bully for more pay, the cash-strapped Baillieu government has been forced to sell two prime assets including the landmark former Kangan TAFE in Gwynne Street Richmond, expected to one day make way for a $200-million plus mixed use village.
In a busy week for school sales and listings, the state has reaped $9.25 million for the 7637 square metre inner-east site which will cease operating as a Kangan next March.
The Business 1 zoned property (aerial pic, right) is heralded as the largest commercial development site to sell in Melbourne this year measured by value – but it’s estimated the property could have been worth more than $20 million should it have sold with a more flexible zoning allowing for residential redevelopment.
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ANOTHER religious based group is disposing a prime located suburban asset, which is likely to be redeveloped as flats.
COMMUTERS stuck at the congested intersection best dubbed a traffic sewer will be able to watch a $25 million redevelopment of a prominent East Melbourne church site.
BRIGHTON-based builder Pace Developments has paid $7.5 million for a residential development site at the manic St Kilda Junction.
SOON, Melbourne’s eyesore commission flat towers might not be the tallest buildings within their suburbs.
THE federal government’s ailing National Rental Affordability Scheme has suffered a convenient setback.
FOURTEEN per cent, or one in seven dwellings within the City of Yarra council zone is now allocated as public housing.
RIVERSIDE Kew and Hawthorn residents share a phenomenon with Williamstown and Footscray residents – whereby eyesore factories on prime waterfront sites are tolerated because “they are better than flats”.
REGULAR Grand Prix racegoers may notice the historic and former heritage-protected Avalon mansion, near the 13th turn at the bottom of Albert Park Lake, in Melbourne, has just been demolished.
So now what?
FOR the moment, residents in Southbank’s most exclusive skyscrapers can relax knowing their million dollar city views are preserved.
THE Office of Housing has paid close to $4 million for a disused aged care facility in Box Hill.
DEVELOPER and fund manager Becton is still in a selling mood.
STAFF of the Federal Government’s divisive $43 billion National Broadband Network program – which earlier this year leased luxury offices in one of Melbourne’s few “Premium” grade office buildings – will soon have new neighbours.
IN PEAK hour, in a car and behind the crammed trams – the retail strip that is Victoria Street, where Richmond meets Abbotsford can be one of the most congested roads in Melbourne to drive through.
CHARTER Hall is set to start building a $75 million housing estate on part of Nylex’s former industrial products manufacturing and distribution complex in Mentone, a site which it has snapped up in stages over the past four years.
RICHMOND’s former Fields Knitting Mills factory, in Lord Street, Melbourne, is set to be redeveloped into a $60 million, six-level apartment complex.
TWO major development sites around the Shrine of Remembrance have sold, in deals expected to see low rise office buildings replaced with skyscraper apartment towers, with a potential end value of around $250 million.
ONE has to wonder what “great Australian dream” some Melburnians were being sold last century.
THIRTY years ago a three-bedroom house in Thomastown cost more than a three-bedroom house in Fitzroy – that’s testament to how much Melbourne’s attitude to housing has changed.
GERMAN supermarket giant Aldi plans to open about 500 new supermarkets on Australia’s east coast, bringing its national total to more than 700.