Performance of Melbourne’s Southern Suburbs This Spring

THE performance of Melbourne’s southern suburb’s reflects the truism that the rich are getting richer.

Nine of the ten best performing suburbs had annual median house growth of more than 10 per cent, with the best performer, Toorak, increasing by an astounding 33.6 per cent. If you’re aspiring to get into the suburb, you’d better have found an extra $560,000 since last year – with the median house price now $2,230,500, almost double that of Melbourne’s second most expensive suburb, Brighton.

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Mosman Tops National Survey – Dollar Value Sales

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.

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Another Brighton Bathing Box Sells For Over $200,000

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.

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Dermott Brereton Sells Brighton House For $1.79 Million

THE larrikin sportsman it could be argued many Australians disliked as a footballer, but now enjoy as a commentator, kicked a real estate goal last month.

Dermott Brereton’s near-new duplex in William Street, Brighton, sold at auction for $1.79 million.

The double-storey, three bedroom home with a pool, double garage and small yard is in the same street as a historic mansion purchased by cricketer Shane Warne in late 2009for a reported $9 million.

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Bayside City Council to Sell Two More New Brighton Bathing Boxes

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.

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Ettamogah Entertainment to Sell Brighton Headquarters

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.

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Prominent Brighton Pub to be Redeveloped as Flats

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.

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Prominent Brighton Mansion, Former Home of Olympian Ron Clarke, Could Set Suburban Record

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.

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CBUS Property Buys Former North Brighton Croquet Club

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.

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Coles Group Buys Piece of Major Brighton Mixed Use Village, Melbourne

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.

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Unlived in Waterfront Apartment, Penthouse, For Sale at $3.2 Million

Rooftop pool at 174 The EsplanadeHONG 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.

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Pace Developments to Sell Brighton Beach Hotel

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.

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AFL Commentator Gerard Healy Buys Mansion in Millionaire’s Row, Brighton

AFL Hall of Fame inductee Gerard Healy has snapped up a house in the Brighton street locals dub "millionaires’ row". The former Melbourne and Sydney midfielder turned football commentator is believed to have paid more than $4 million for the home in Kinane Street, one of the suburb’s most expensive enclaves.

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