R.Corporation Starts Rebuilidng Willow Esky Site, North Melbourne

But when Willow relocated its manufacturing facility to Tullamarine in 2003, residential developer R.Corporation swooped on its outgoing North Melbourne site, and is now forging ahead with redevelopment plans.

R.Corporation this weekend launched the first stage of its Park Terraces project in Buncle Street, between Sutton and Mark streets. Fifteen of the 38 townhouses sold already, to buyers who had previously registered an interest, the developer says.

Given their location near high rise public housing blocks, R.Corporation’s three-level townhouses are relatively affordable by North Melbourne standards. They range in price from $490,000 to $595,000, and in size from 153 square metres to 200 square metres.

R.Corporation paid $7.06 million for the 8,252 square metre site in June 2007. Willow moved to a high tech facility in Annandale Road Tullamarine in 2003, some 110 years after it opened its Buncle Street manufacturing facility. Willow was established in a Flemington backyard in 1887.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.