apartment development – realestatesource

HAVING demolished the historic red brick building that once stood at 83 – 95 Rathdowne Street in Carlton, builder Piccolo Developments is set to start marketing The Garden House complex, opposite the 130-year old Royal Exhibition Building, and Carlton Gardens South.

The $50 million, Woods Bagot-designed project, to be developed on the north-west corner of Queensberry Street, will rise five levels and include 46 apartments, and terraces.

New South Wales

Australand Sells Crest Hotel, Kings Cross, For $72 Million

October 6, 2009 Marc Pallisco apartment development, hotel, redevelpment, tourist accommodation

PROPERTY giant Australand has offloaded the Crest Hotel, in Kings Cross, Sydney, for $72 million.

Property developer Michael Sanchez is reported to have purchased the 227-room hotel, with plans to convert the old building into luxury apartments.

Australand paid Coogee Bay Hotel owner Chris Cheung $63 million for the hotel two years ago. The hotel has been unused since June, when the Constellation Group vacated.

New South Wales

Developers Shave $1.35 Million From Price of Unsold New Birchgrove Apartment

August 5, 2009 Marc Pallisco apartment development, prestige residential

THE developers of the luxury Louisa Road apartment project in the inner-western Sydney suburb of Birchgrove, have shaved $1.35 million from the asking price of a unit that failed to sell during construction.

SJB Architects, which has developed the 36 Louisa Road building with Queensland-based Sunland Property Group, has two apartments left to sell in the six-unit project, which offers residents westerly views over Cockatoo Island (pictured) toward Drummoyne.

Victoria

Planning Minister Justin Madden to Unveil Last Stage of Becton’s Jolimont Rail Yard Development

September 13, 2009 Marc Pallisco apartment development

PLANNING Minister Justin Madden will open Becton’s distinctive glass One East Melbourne apartment complex later this month.

The tower is the final piece in a 17-year redevelopment of the former Jolimont rail yards, which Becton acquired from the State Government in stages.

One East Melbourne includes a 19-level, 85-unit apartment tower, topped by a rooftop garden.

Victoria

Former Pacific Brands Office to be Redeveloped Into George Apartments

September 13, 2009 Marc Pallisco apartment development

EVOLVE Development, the construction company of Fairfax chairman Ron Walker and business identity Ashley Williams, has unveiled images of its $45 million George apartment project in North Melbourne.

The 8-storey Hassell designed tower will be developed at 97 Flemington Road, on the south-east corner of Harcourt Street, and will replace a double-storey office until recently occupied by clothes manufacturer Pacific Brands.

Victoria

Moller’s Caravan Park, Inverloch, Sells to Developers For $6 Million

August 23, 2009 Marc Pallisco apartment development, caravan park, Inverloch, provincial and regional Victoria

A developer is understood to have paid close to $6 million for the Moller’s Caravan Park in the coastal hamlet of Inverloch, about 145 kilometres south-east of the city.

The approximate 9,000 square metre waterfront property, with four street frontages, is speculated will be developed into a medium-density apartment project, flanked by ground floor retail, and possibly some serviced apartments.

Stockdale & Leggo Inverloch agent Judy Robertson, who marketed the site with Patrick Barry, confirmed a sale negotiation was underway, but declined to elaborate on buyer or price. The caravan park first came onto the market last year with an $8 million price tag.

Victoria

St Kilda Road’s Aviva Building Close to Sale For $55 Million, Apartments Earmarked

August 16, 2009 Marc Pallisco apartment development, office sale, St Kilda Road

A year since coming to the market, Dexus Property Group is believed to be formalising the sale of its huge 509 – 515 St Kilda Road office for about $55 million.

Well placed industry sources say a residential-focussed developer is in exclusive due diligence to buy the 7-level, 19,687 square metre office building, which straddles a 6,070 square metre double-sized block near the corner of Commercial Road.

They speculate the office building currently on the site – home to copier and printer giant Fuji Xerox and insurance group Aviva which also leases naming rights – will be demolished to make way for between two to three new high rise towers, flanked by ground floor retail.

Victoria

Brighton home sells for record $15.5m

July 12, 2009June 13, 2020 Marc Pallisco apartment development, prestige residential

A NEW price record is believed to have been quietly set for the ritzy bayside suburb of Brighton.

Sources say an undisclosed Geelong-based business identity has agreed to pay about $15.5 million for a waterfront mansion at 25 – 27 Glyndon Road, in the suburb’s “Golden Mile”.

The 5-bedroom mansion has a 59-metre water frontage, and includes a tennis court, swimming pool, spa, sauna, gym, home theatre and rooftop entertainment area.

Victoria

Prominent Geelong Silos to be Redeveloped into Apartments

July 12, 2009 Marc Pallisco apartment development

GREY concrete silos – for generations a prominent landmark on the drive into central Geelong – are to be sold, and may be redeveloped into the city’s next social housing project.

The vendor of the property, Printco Signage director Neil Slater, can expect to make about $3 million sources say, from the 46 – 48 Mercer Street development site. The property abuts the Geelong train station – the only train station in the city’s Central Activity District.

The six-tube silos will be sold with a permit for an 8-level, 40-unit apartment project which would offer Corio Bay views.

The silo project was recently registered on the Federal government’s National Affordable Rental Incentive Scheme, and the Nation Building – Economic Stimulus plan, which will make it attractive to private social housing developers, Kelemen Commercial selling agent Craig Ferguson said.

Victoria

Ron Clarke’s Former Brighton Mansion Sold For $12 Million, Apartments Planned

July 12, 2009 Marc Pallisco apartment development, prestige residential

THE FORMER Brighton home of Olympian-turned Gold Coast Mayor Ron Clarke is believed to have sold for about $12 million, and will be developed into apartments.

Boutique builder L & D O’Brien Holdings Pty Ltd has purchased the imposing but rundown 1 Bay Street mansion, which occupies a prominent waterfront position overlooking Port Phillip and the Middle Brighton Baths.

The home will be demolished to make way for a luxury apartment complex of at least six units, sources say. JP Dixon’s Jonathan Dixon is marketing the units but was unavailable for comment.