Top Melbourne Suburbs to Invest, For Budgets of Less Than $500,000

Flemington Post OfficeMELBOURNE’s once booming real-estate market has finally decelerated – and for the first time in a long time, buyers are calling the shots.

If you have a secure job, low debt and a will to own real estate – banks, developers and the Government want to talk.

But a word of advice: if you do take the plunge, spend what you can afford, rather than the maximum amount you can borrow.

Saturday Domain talks to some experts on which suburbs you should look at, no matter what your budget:

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LPD Sells Office Component of Armadale Complex For $14.5 Million

LITTLE Project Developments – the construction company of local billionaire entrepreneur Paul Little – has reaped $14.5 million selling off the commercial component of a five-level building in Armadale.

The 863 High Street asset includes 615 square metres of retail space, 2567 square metres of A-grade offices, and 64 car parks.

For years until it was demolished in 2009, the site was home to the Geddes antiques store. LPD has also built and separately sold townhouses and apartments on the site.

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Geddes Antiques Shops, Armadale, Being Redeveloped Into Offices

ARMADALE’s ritzy High Street – once considered the best place in Melbourne to shop for Persian rugs and antiques – could be shedding its vintage charm ONCE CONSIDERED the best place in Melbourne to peruse Persian rugs and antiques – Armadale’s ritzy High Street, is detaching from its traditional past. The former Geddes Antiques string of

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Land Behind Geddes Antiques, Armadale, to Become Boutique Apartments

CONSTRUCTION of a boutique apartment building, on what was once land behind the Geddes Antiques stores in High Street Armadale, is set to start in July. The 3-level, 8-unit building, with the new street address of 44 New Street, is being developed by Little Project Developments, a construction company owned by Toll Holdings boss Paul Little. Prices

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Chris Tarrant and Wife Lauren to Auction Armadale Home Today

AFL footballer Chris Tarrant may be returning to Victoria to see out the rest of his career wearing a black-and-white Guernsey for Collingwood.

But the renowned forward has chosen not to live at the Armadale address he previously used as his Melbourne base – and will instead auction that property today.

Tarrant and his wife, model Lauren Strauss, can expect about $4 million, sources say, from the sale of the Adelaide Street house, which is near the High Street shops and the suburb border of Toorak and Malvern.

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Another High Street Armadale Site Sells, Apartments Planned

ARMADALE’s next major mixed use project looks likely to rise from the site of a rundown collection of buildings between 1196 – 1200 High Street.

A local private investor and developer paid $5.525 million for the 706 square metre site, which is expected will make way for an apartment building with ground floor retail, and maybe some upper level offices.

Property developer and the former owner of Malvern’s Giorgio’s restaurant, George Saade, bid at the auction according to sources.

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Armadale Suite of Buildings Sells For $5.5 Million

ARMADALE’s next major mixed use project looks likely to rise from the site of a rundown collection of buildings between 1196 – 1200 High Street.

A local private investor and developer paid $5.525 million for the 706 square metre site, which is expected will make way for an apartment building with ground floor retail, and maybe some upper level offices.

Property developer and the former owner of Malvern’s Giorgio’s restaurant, George Saade, bid at the auction according to sources.

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Vivas Lend Lease Announces Plans For Major Redevelopment of Armadale Site

High Street, ArmadaleA prominent 2.5 hectare site at the suburb border of Armadale and Toorak, in Melbourne’s ritzy south-east, is set to be redeveloped.

The joint venture partners of the project have unveiled plans for a major project including apartment buildings rising as high as 16 levels.

The development would be just short of commission flats in nearby Prahran, which soer just over 20 levels.

Related story: Lend Lease, Frank Hargrave, to Develop Major Residential Village on SKM Site, Overlooking Toorak Park

Vivas Lend Lease, as representative for the JV consortium, issued this press release last week for the project, at 590 Orrong Road, near Toorak train station and overlooking Toorak Park and Orrong Romanis Park:

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