Commercial and residential property news
MOSMAN, in Sydney, ranked as the suburb to record the highest dollar value of sales in the year to July 2010 – almost $851 million.
Research group RP Data has published a survey ranking the country’s top performing suburbs.
Using the total value of property sold for the year, the suburb of Brighton ranked highest for Victoria.
Read more
SOME Brighton mansions may be languishing on the market for months – and then end up selling for far less than initial asking prices. But demand for the suburb’s smallest real estate is continuing unabated – even selling for a nifty profit between economic downturns.
This week new Brighton agency Nick Johnstone Real Estate sold bathing box 40 on Dendy Beach, for $210,000 before a scheduled auction. The vendor bought the cream coloured wooden box two years ago for $170,000.
Read more
Footballer turned commentator Dermott Brereton has sold a near-new duplex in Brighton’s William Street. The double-storey dwelling with three bedrooms
Read more
BAYSIDE City council can expect to reap more than $400,000 from selling leasing rights to two new bathing boxes it has constructed at Brighton’s Dendy Beach.
It was almost two years ago the council decided to build six new bathing boxes on the prominent stretch of sand, in a move expected would generate about $1 million in extra income.
The first bathing box developed on the beach in more than a century sold for $215,000 last December, suggesting the council can expect around $1.3 million from the endeavour.
Read more
THE developer that has kept Melbourne’s heritage enthusiasts on edge for a year has quietly listed its Brighton headquarters for sale.
Ettamogah Entertainment, which went into voluntary administration last November, is directed by Leigh O’Brien, whose development company, L&D O’Brien Holdings, paid $12 million in 2009 for the prominent 1 Bay Street Brighton mansion once owned by Olympian turned Gold Coast Mayor Ron Clarke.
L&D planned to replace the 1933 square metre site with a high-end apartment complex, after the Victorian Civil and Administrative Tribunal approved the historic six-bedroom home on the site (pictured) be demolished.
Read more
PLANS to redevelop Brighton’s historic Khyats Hotel into an apartment village are proceeding.
The pub, at 21 – 25 Wilson Street, raised eyebrows in late 2009, after the Victorian Civil and Administrative Tribunal made the highly unusual decision not to raze the historic building, as part of a residential redevelopment.
The Bayside council and former planning minister Justin Madden previously refused to put a heritage overlay over the hotel, which is opposite the Brighton Town Hall and Clocktower Theatre.
Read more
A prominent Brighton home once owned by Olympian turned Gold Coast Mayor, Ron Clarke has hit the market and may set a new price record for the ritzy bayside suburb.
The spectacular Spanish Mission style mansion at 1 Bay Street is expected to sell for about $15 million – either as a renovation rescue or an apartment development site.
At this kind of money, the six bedroom 1920s home on a 1933 square metre block, could surpass the $15.5 million suburban record set last July when property developer Mario Salvo purchased a modern waterfront home in Glyndon Avenue.
CBUS Property, a subsidiary of industry superannuation fund CBUS, has seized control of one of bayside Melbourne’s most controversial development sites – the disused North Brighton Croquet Club, in Warleigh Grove.
CBus, which represents workers in the construction and building industry, has paid $18.6 million for the 9015 square metre site and, having grabbed the mallet proverbially, immediately pitched plans to build a high-end, high-density residential complex with flats and townhouses.
The completed product could have an end value of more than $150 million, sources speculate, making it one of the biggest projects to start construction in Melbourne’s bayside suburbs.
Read more
WESFARMERS owned Coles Group is speculated to be paying around $13 million for an as-yet-undeveloped, approximate 4200 square metre supermarket in the ritzy Bay Street, Brighton retail strip.
Sources say Coles is purchasing the space off ASX listed Abacus Property Group, which is proposing a mixed use village for the site on the south-west corner of Male Street.
The property, for a couple of years now a block of dirt behind a fence, was earmarked for a $38 million office and retail complex, however it’s understood a new complex with a residential component is now proposed.
Read more
HONG Kong based company director Sheena Wong is selling a penthouse apartment on Brighton’s waterfront.
Apartment four at 174 The Esplanade, includes three bedrooms, a study, a large open plan living and dining area, two car spaces, and rooftop terrace with spa bath.
Refrigerators, ovens, the microwave and a coffee machine are built into the apartment’s Poliform kitchen.
The kitchen, like the adjoining lounge and dining room, captures postcard views over Port Phillip Bay.
Read moreBAYSIDE developer BPM has outmuscled international and local buyers for a supersized Brighton property, about 100 metres from the waterfront.
Read more
A PROMINENT near-new hotel opposite the Royal Brighton Yacht Club has hit the market with a price tag of $25.8 million.
The 59-room Quest complex, at 242 – 254 The Eplanade, is expected to sell to an investor or syndicate, who may sell down the 68-individually titled spaces within the complex, at a premium.
The waterfront property – available for sale as a whole by builder Pace Developments – also includes three penthouse apartments, retail and commercial components.
Read moreThe days of tennis players renting a luxury home for their stay at the Australian Open are all but gone, according to agents, because rich home owners simply don’t need the money.
Read moreTo Melbourne’s bourgeoisies, nothing spells exclusivity like a bathing box.
Read more
Former Tabcorp and Southcorp chief executive officer Ross Wilson will sell his landmark Brighton mansion, Blair Athol.
Read more