Federal Government to Offload CSIRO Highett Site Soon
ENDING years of speculation, the federal government is readying to sell one of the south-eastern suburb’s most anticipated development sites.
Under the guidelines of the Commonwealth Property Disposals Policy, the 9.5 hectare CSIRO Land and Research Highett Laboratory is expected to be offered for sale this financial year.
Bayside City Council held a meeting with the federal government late last month to pitch its thoughts for the site which runs between Highett and Bay roads, near the Highett train stations, about 16 kilometres from the CBD and near the more exclusive suburbs of Hampton and Sandringham.
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ONE of last year’s biggest development site sales has fallen through forcing the asset to be relisted for sale this week.
FKP Property Group has purchased Sydney’s eye hospital site in the inner-city suburb of Woolloomooloo, for an as yet undisclosed amount.
SYDNEY based shopping centre giant Westfield has sold an open-air car park abutting the Doncaster shopping centre’s north-east boundary.
AUSTRALIA’s prestige real estate market seems to be going from strength to strength, with an overseas-based investor paying close to $30 million for a villa style mansion in Sydney’s ritzy Vaucluse.
HARDWARE giant Bunnings is believed to have paid about $25 million for a collection of adjoining sites abutting a major entrance of Westfield Doncaster shopping centre, about 14 kilometres east of town.
MIRVAC Group has made $29.5 million from the sale of its Chester Square shopping centre in Sydney’s west.
SOME Brighton mansions may be languishing on the market for months – and then end up selling for far less than initial asking prices. But demand for the suburb’s smallest real estate is continuing unabated – even selling for a nifty profit between economic downturns.
NEW South Wales historic Tubbo Station estate in the Riverina region has sold for more than $40 million.
A LEANER, greener proposal to redevelop the 1.5-hectare St Kilda Triangle site should be unveiled by next year – allowing construction to start soon after.
LOCAL developer CGA Bryson is selling a prominent Camberwell development site it bought just 15 months ago.
THE popular Bendigo Art Gallery (part of interior pictured, right) is to expand, again, to cater for two new gallery spaces, a bigger entrance and new storage and loading facilities.
THE new owners of a disused city college near the Queen Victoria Market in the Melbourne CBD have lodged an application which would more than doubles the size of a proposed apartment tower approved by council just four months ago.
SINGAPORE based private investor Philip Lim is understood to be the mystery buyer paying $89.2 million for an asset on the footsteps of the Bourke Street Mall.
A CHINA-based developer is understood to have paid $3 million for a 1465 square metre development site near a prominent Doncaster Hill junction, about 13 kilometres east of town.
PRICEWATERHOUSECoopers – which recently went against the grain by leasing an office building just out of the Melbourne CBD as its headquarters – may be looking to do the same in Sydney.
IT’S not just developers pushing Melbourne’s planning limits.
CONSTRUCTION of a contentious Camberwell apartment project dubbed by locals as “Melbourne’s ugliest tower” is now not likely to start until at least next year.
THE New South Wales Government has abandoned plans for its $5.3 billion Metro rail project in favour of a $50.2 billion transport blueprint which will include a $4.5 billion express rail service to Western Sydney, and a $6.7 billion North West rail link from Epping to Rouse Hill.
MELBOURNE’s Southern Cross rail station (pictured) – formerly known as the Spencer Street Station – could get a $2 billion upgrade, as part of plans to build a high-speed rail link to Sydney.
BOUTIQUE builder Fridcorp has redesigned and rebranded the controversial $120 million South Yarra apartment proposal that it bought into a couple of months ago.
ANOTHER religious based group is disposing a prime located suburban asset, which is likely to be redeveloped as flats.
A SUPERSIZED North Melbourne development site, opposite two small parks and capable of accommodating a landmark skyscraper, has hit the market and is expected to sell for about $8 million.
AUSTRALIANS will pay higher borrowing rates than they need to, and any economic recovery may be slower than it could be, as a result of Rudd government’s recent $A315 billion spending spree.
SYDNEY-based fund manager Charter Hall can expect some $25 million from the sale of a Melbourne CBD office it bought for $32 million in September 2007 – just weeks before the last commercial property market peak.
ANOTHER prominent development site has been listed for sale in Melbourne’s east.
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.
THE $2 billion redevelopment of Broadway’s former Carlton & United Brewery site, in Sydney, will begin “immediately”.
MELBOURNE-born retail giant JB Hi Fi is staring down progress, in Keilor East.
TWO major corporates have signed major new leases in Sydney, signalling a shift in sentiment to the CBD office market.
