South Yarra Development Site Sells For $5.5 Million
A SOUTH Yarra development site within the Forrest Hill precinct that is quickly becoming a high-rise apartment compound, has sold for $5.5 million to a consortium of off-shore and local investors.
The 10 Claremont Street residential development (artist impression, right) is one of the areas densest proposals – permitted to rise 17 levels and include 104 flats of which 89 are configured with one bedroom.
When apartments first hit the market for sale last year, one bedroom flats were priced from $350,000.
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PRIVATE investor Kirsh Group has paid a combined price of $153.5 million for two Martin Place, Sydney office towers.
BUDGET holiday makers are driving a surge in occupancy for humble caravan park accommodation – and many are staying for longer than they have in the past.
A HISTORIC CBD property, purchased by barristers almost 30 years ago, and occupied as legal industry offices since, is expected to fetch about $5 million at auction next month. 
BILLIONAIRE media and gaming magnate James Packer has received council approval to redevelop a 3369 square metre sloping site in Sydney’s ritzy eastern suburb of Vaucluse.
AHEAD of a move to an as-yet-undeveloped facility at Cheltenham, the Returned and Services League is selling its Beaumaris facility in a deal expected to pocket the club around $17 million.
FORMER politician Pauline Hanson will sell her country estate in south-east Queensland, ahead of a move to Britain.
THE SUPREME Court will decide whether a Victorian sheriff acted unconscionably when he sold a $630,000 Braybrook house for $1000 at a no-reserve auction.
BECTON Office Fund has sold a North Sydney office to Sydney-based private equity group, Altis Property Partners for $38.25 million.
OWNERSHIP of the $1.5 billion Direct Factory Outlet retail chain is set to change, after its two main backers, David Goldberger and David Weiland, reportedly “assess their holdings.”
IT WILL be the end of another era in Abbotsford when apartment builders redevelop the property known for more than a century as the St Joseph’s Technical School.
ALMOST 12,000 Australians who took advantage of the ALP Government’s First Home Owner’s Grant are struggling to meet their mortgage repayments.
A near-new, neighbourhood shopping centre on a massive 9.3 hectare site, most of which can’t be redeveloped, sold for $8.4 million last month to a local private investor.
MILLIONAIRE businessman Jerry Schwartz is understood to be in negotiations to buy the Fairmont Resort at the Blue Mountains for about $26 million.
A RECORD number of social housing is being developed in Queensland this year, as part of the Federal Government’s recent stimulus package.
NEW plans are in the works to redevelop the Box Hill car park which four years ago was earmarked to become suburban Melbourne’s tallest skyscraper.
THE Fairfax family plans to demolish a 14-level office in Sydney’s CBD, and replace it with a 32-storey building which would have an end value of about $86 million.
The Real Estate Institute of Australia (REIA) has urged the Government to review the amount of the First Home Buyers Grant (FHOG) in its Pre-Budget Submission, so that it maintains its relativity to when it was introduced in 2000.
THE Victorian leg of Chain Reaction, the week-long event that has become the commercial real estate sector’s highest profile charitable exercise, starts in Melbourne next month.
Today the Reserve Bank governer Glenn Stevens made a surprising announcement that the official cash rate was to remain on hold at 3.75%
ELECTRICITY transmission network owner and operator SP-AusNet can expect to make about $5 million from the sale of two Victorian properties, effectively development sites.
SYDNEY-based property developer Lang Walker has paid a speculated $10 million for a 30 hectare parcel of land, once part of Amcor’s Petrie paper mill, in Brisbane.
ANOTHER development site has hit the market within the vicinity of the recently re-aligned Haymarket roundabout, where North Melbourne connects with Parkville and Carlton.
SYDNEY based developer FKP Property Group has offloaded a Sydney office building for $7.6 million to an undisclosed private investor.
SIXTEEN months after it first hit the market, the outgoing Pakenham Racecourse and Showgrounds site is believed to have found a buyer.
COUNCILS are being forced to spend hundreds of thousands of dollars protecting historic cemeteries from vandals.
THE Yarra City Council has approved the $400 million redevelopment of Channel Nine’s long-time Bendigo Street studios, in Melbourne’s inner east.
THE Ascot Vale home where underworld figure Desmond “Tuppence” Moran was nearly killed sold at auction this weekend for $1.105 million.
DEVELOPMENT and investment giant Goodman Group has snared Metcash as a major industrial tenant.
ST KILDA West’s prominent “Pamela Anderson House” (pictured, right) has been relisted for private sale at $1.62 million after failing to sell after an Expression of Interest campaign that closed in mid-November.
MOSMAN, in Sydney, ranked as the suburb to record the highest dollar value of sales in the year to July 2010 – almost $851 million.
Sydney-based developer EG Funds Management has lodged plans to replace a rundown Kensington wool store (pictured, right) with a major residential village.
ACCORDING to the latest Shopping Centre News survey 2010, the Northbridge Plaza on Sydney’s north shore is the country’s best performer based on turnover per square metre.
SYDNEY based developer has opened its Stockland Highlands Shopping Centre in the outer northern Melbourne suburb of Craigieburn.
THE Reserve Bank of Australia has given mortgage holders an early Christmas present, by increasing interest rates just 0.25 per cent this week.
SIX developers have been selected out of 17 applications to redevelop the first stage of Sydney’s Barangaroo.
THE director of Australia’s largest, independent, residential land developer – Nigel Satterley – has been appointed by the Property Councl of Australia to head the divisions Residential Development Council.
THE biggest shopping centre in the southern hemisphere is about to undergo its highest profile redevelopment, some 51 years after it opened (pictured, right).
TWO major homemaker centres in east coast Australia have sold for a combined $87.5 million.
IT was designed to replace an eyesore – but Melbourne’s high profile Federation Square site, across from the Flinders Street station, has been dubbed one of the 10 ugliest buildings in the world, according to a Virtual Tourist report.
SURFERS Paradise’s Marriott Resort & Spa Hotel has sold to Indonesia’s Rajawali Group for about $75 million.
AFTER retaining it for five years, the Australian Unity Investments’ Healthcare Property Trust has sold an inner-city medical complex in a prime residential area to a syndicate of private investors.