australand – realestatesource

IOOF Investment Management Ltd has paid $24 million for a 27,000 square metre industrial facility in Melbourne’s west.

The Derrimut investment is within Australand’s West Park Industrial Estate – a 290 hectare industrial park located fifteen kilometres from town on Boundary Road, abutting the Deer Park Bypass.

Just over a year ago IOOF paid $19 million for another asset in the Australand estate. Other West Park occupants include Mitre 10, Freight Specialists, La-Z-Boy and Bed Bath N’Table.

South Australia

Australand Sells Adelaide Industrial Site For $1.35 Million

February 21, 2010 Marc Pallisco Adelaide development site sale, Adelaide industrial sale, australand, BGC

AUSTRALAND has made about $1.35 million from the sale of a 1.55 hectare vacant industrial site in Adelaide. The 21

New South Wales

Major Macquarie Park Project Should Start Construction Soon, Sydney

July 21, 2011 Marc Pallisco australand, LaSalle Investment Management, Leighton Holdings, Macquarie Park, Toga Group

CONSTRUCTION of a major new 561-unit apartment complex in Sydney’s Macquarie Park should start by the end of this year.

Global property group LaSalle Investment Management has teamed with Sydney’s Toga Group to develop the regional centre in Sydney’s north.

All planning approvals for the first stage of the project are in place, according to the AFR which reported the new development arrangement.

New South Wales

Australand, LaSalle Pay $35 Million For Clemton Park Development Site, South-West Sydney

July 4, 2011 Marc Pallisco australand, Clemton Park, LaSalle Investment Management

LISTED institution Australand Property Group with partner LaSalle Investment Management, have paid about $35 million for a 5.5 hectare development site in Sydney’s south.

The Clemton Park site (aerial of the suburb, right) sold with a permit. It’s expected to deliver about 700 dwellings over a five to six year period.

Construction company Parkview sold the site, some 15 kilometres south-west from the Sydney CBD and near Earlwood, Kingsgrove and Campsie and not far from the city’s international airport.

New South Wales

Mercure Potts Point Reopens After Renovation, But Doesn’t Sell

March 3, 2011 Marc Pallisco australand, Potts Point, Sydney Hotel Sale

SYDNEY’s 227-room Mercure Potts Point has opened after a major renovation that started three years ago.

A $63 million sale of the hotel, reported last month, is now reported to have fallen through. An international operator will be appointed to manage the hotel now, according to the AFR.

Queensland

Australand Unveils $160 Million Kangaroo Point Project, Brisbane

September 9, 2009 Marc Pallisco australand, Brisbane residential apartment project, development dispute, institution

AUSTRALAND has unveiled plans for its $160 million Kangaroo Point apartment project in Brisbane.

The controversial project will be developed on Brisbane’s historic Yungaba House site, which was the first property to be put on the state’s heritage register in 1992. The State government sold the site to Australand.

The project will include 68 units in the first stage, and ten luxury homes in the second stage, which will be built into the historic riverfront home.

Victoria

CBA Leases 8500 Square Metres at 357 Collins Street, Melbourne

April 13, 2011 Marc Pallisco australand, Collins Street, Melbourne CBD Office Lease

COMMONWEALTH Bank of Australia has leased 8500 square metres of refurbished office space within the Collins Street building that once acted as Melbourne’s stock exchange.

The lease, for levels 6 to 10, are for an initial 10-year period. CBA is paying rent of $385 per square metre, per annum, presumably prior to incentives (discounts offered off this “face” rent, common in most CBD leases nowadays).

Australand purchased the vacant building from Asian investors last year, which failed to relaunch the building as an apartment project. Sources say that residential conversion would never have worked given the building only has a handful of car spaces.

Victoria

Australand Consortium to Build Apartment Compound Opposite Melbourne Uni

November 16, 2010 Marc Pallisco Ashwood, australand, carlton, Chadstone, Citta Properties, commission flats, Parkville, public housing, social housing, St Hilliers, Westmeadows

GIVEN the increasing number of apartment dwellers calling Melbourne’s inner north home, a “direct” trip between the Tullamarine and Eastern freeways – via the zoo and cemetery – can now consume motorist’s an hour, or more, largely because of amplified traffic congestion.

But it would appear in government planning meetings, bottlenecks like that around Elliott Avenue, Macarthur Road and the University of Melbourne have received less consideration than other crisis-ridden road systems – like the ones in suburbs between Seaford and Mt Martha where the $759 million (and many say unnecessary) Peninsula Link was recently given the green light.

Instead, the state government has appointed builder Australand to develop a major apartment compound at one of the inner-city’s last remaining vacant development sites, opposite the Melbourne General Cemetery, the University of Melbourne – and the busy roundabout that connects these two sites to Swanston Street.

Victoria

Melbourne Industrial Sales Settle

September 16, 2010 Marc Pallisco australand, Melbourne industrial sale

AUSTRALAND has reaped $15 million from the sale of three industrial warehouses in the western Melbourne suburb of Derrimut. On

Victoria

Stockland Starts Building Craigieburn Shopping Centre

August 26, 2010 Marc Pallisco australand, Craigieburn, Evolve Development, Highlands, New Melbourne Shopping Centre, Stockland

HAVING opened the Stockland Tooronga Shopping Centre in Glen Iris on Thursday, Sydney-based developer Stockland has bought forward plans to build a $40 million, 7087 square metre complex in Melbourne’s outer north.

Preparatory construction work has started for two Craigieburn developments: the Stockland Highlands Shopping Centre at Bridgehaven Village, and another complex, The Corner Store, off Waterview Boulevard.

Stockland Highlands will open in the middle of next year and include 22 speciality shops and a piazza style town square.

Victoria

Southbank’s Next Major Skyscraper on its Way

July 11, 2010 Marc Pallisco australand, Crown Casino, Eureka, Freshwater, New Melbourne Apartment, QBH, Schiavello, Southbank

NOTORIOUS nightclub QBH will be converted into a luxury display suite, for the Southbank riverfront’s next major apartment tower.

Last week, advertising started for the proposed 66-level, 616-unit Prima Pearl Apartment complex, at 31 – 49 Queensbridge Street.

The project is being proposed by furniture magnate and property developer Tony Schiavello, who recently paid $10 million for the QBH club, at 1 Queensbridge Street, near the Prima Pearl site.

The QBH property has direct Yarra River frontage – and as such, redevelopment potential down the track.

Victoria

Australand to Sell Riverfront Site Near Victoria Park Stadium

April 19, 2010 Marc Pallisco Abbotsford, australand, Yarra River

AUSTRALAND is selling a 4000 square metre inner-city development site, wedged between Collingwood Football Club’s Victoria Park stadium, and the Yarra River.

The Abbotsford property at 80 – 110 Trenerry Crescent, will be sold with a permit for a nine-level residential building, with 94 units.

Australand has already developed townhouses on part of the site, which is near Dights Falls, and next to the prominent Australian Education Union Victorian Branch offices.

Victoria

Major $160 Million Public Housing-Based Development Likely to Proceed Near Melbourne Airport

March 1, 2010 Marc Pallisco affordable housing, australand, social housing, The Mews, Valley Park, Viva Carlton, Westmeadows

THE VICTORIAN Government has appointed Australand as the preferred builder for one of the state’s largest public and private housing developments.

Australand plans to transform about 18 hectares in the north-west suburb of Westmeadows, near the Melbourne Airport, into a $160 million mixed-use village of apartments, townhouses, aged care accommodation and parks.

The Valley Park project spreads across a dozen Westmeadows streets, including the major Dimboola Road and Erinbank Crescent.

Victoria

Australand Pays $11.9 Million For Nine-Hectare Rowville Development Site

February 18, 2010 Marc Pallisco australand, Melbourne development site sale, Rowville

AUSTRALAND has paid $11.9 million for nine hectares of business zoned land in the south-eastern Melbourne suburb of Rowville.

“If ever there is a sign that the market is looking more positive, its when you start to sell development sites,” Colliers International’s Barry Marks told the AFR, which reported the sale.

Anthony Maugeri, southern region manager for Australand, said the group would consider selling Stud Road land outright. It will also offer land and build-and-leasing packages.

Victoria

Australand Sells Undeveloped Taylors Hill Shopping Centre For $23 Million

January 22, 2010 Marc Pallisco australand, Melbourne suburban retail sale, shopping centre, Taylors Hill

AUSTRALAND will build its first Greenfield retail project, in the outer Melbourne north-western suburb of Taylors Hill.

The developer, which is best known for its residential, industrial and office projects, has sold an unbuilt shopping centre- part of its Taylors Hill housing estate – for $23 million, to a group of Melbourne private investors.

The 5,300 square metre Watervale Shopping Centre sold on an estimated yield of about 8 per cent, according to the AFR, which reported the deal.