City Shift as Provincial Victorians Buy Melbourne “Holiday House”

We’ve all heard about the sea changers – the growing number of Melburnians packing up their homes and heading to a new life in the coast or country.

Singles, couples and families are leaving in droves – trading in the city’s caffeine infused impersonal lifestyle for something more inspiring.

But while the sea-changers pack up their four-wheel-drives in search of a new home outside of the metropolitan area, they are passing a growing number of city shifters – those from provincial Victoria that are also looking for a change of scenery, and are setting up tent right in the heart of the city.

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Lend Lease Announces Agreement With Japan Based Sekisui House

SYDNEY based developer and fund manager Lend Lease has announced an agreement to develop a swag of national, master planned residential and community projects with Japan based Sekisui House.

The arrangement, which is subject to conditions, will see Sekisui acquire a 50 per cent interest in Lend Lease’s controversial 15-level Serrata apartment tower proposal, in Docklands.

Sekisui House will also buy land at Lend Lease’s Hyatt Coolum on the Sunshine Coast, Queensland, and a piece of a project at Wentworth Point, near Homebush, in western Sydney.

A copy of Lend Lease’s ASX announcement is below:

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MAB Unveils Docklands Newest Street: Millionaires Only

DOCKLANDS newest street – overlooking the water – and developed only with multimillion dollar townhouses – was launched earlier this month.

MAB Corporation sold all 18 low-rise homes marketed as Marina Residences prior to completion and for prices of up to $4.65 million.

The homes, each with water and city views, were developed over a reconstructed wharf in the developer’s NewQuay precinct. Each includes a plunge pool, four car garage, home theatre, home office and outdoor terrace.

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MAB Launches $350 Million Docklands Towers

ANOTHER year, and MAB Corporation is releasing another major Docklands project.

This time, the development – The Quays – will include two towers.

A south tower will rise 32 storeys and include 275 units. It will be the tallest building in MAB’s 5.3 hectare Docklands pocket.

A north tower will include 230 flats. At ground level, a walkway aims to create a new retail laneway, with cafes and shops.

The project (artist impression, right) will also include 95 serviced apartments. Residents within The Quays will be able to utilise hotel functions like a spa, pool, sauna, health club, gym and yoga studio.

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Australia Post to Sell Prized Melbourne Asset

GOVERNMENT owned goods and services provider Australia Post is offloading its most prized Melbourne asset – the former Australia Post Mail Centre on the south-west corner of Spencer and La Trobe streets.

The 1.2 hectare property, with a 10,400 square metre building, is being offered with vacant possession after a reported lease to hardware chain Bunnings last August did not proceed.

Wesfarmers controlled Bunnings is moving to multi-level inner city sites as part of a strategy to boost its inner-city presence, and outmuscle new Woolworths controlled rival, Lowes.

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Lend Lease Expecting $120 Million From Sale of Docklands Office

PROPERTY giant Lend Lease is expecting about $120 million from the sale of an as-yet-incomplete office in Melbourne’s Docklands – a near new city, effectively, on disused industrial land abutting the western edge of the CBD.

The 17,000 square metre office recently secured engineering firm Aurecon as an anchor tenant for 9500 square metres. Aurecom was formerly known as Connell Wagner

The building is due for completion in the second half of 2012.

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Construction Starts of Dockland’s Next Major Skyscraper, Melbourne

DOCKLANDS next major skyscraper should start appearing on city skylines later this year.

Sydney-based developer Mirvac has just started construction of its latest waterfront apartment tower, Yarra Point, on the corner of Lorimer Street and Point Piper Crescent.

Upon completion in 2013, the $200 million tower will soar 31-levels and include 201 flats.

When the project was launched last October, entry level apartments started at a staggering $500,000. Four bedroom “sky residences” have fetched $2.5 million.

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Lend Lease to Build Strata Office at Melbourne’s Docklands

SYDNEY based developer Lend Lease is set to develop a strata office building in Melbourne’s Docklands.

The $70 million project – Lifestyle Working Collins Street – will measure 9500 square metres and include 137 suites ranging in size between 48 and 123 square metres.

The complex, with a street address of 838 Collins Street, will include shared meeting spaces for occupants to share.

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Deka Immobilien Investment to Pay $118 Million For South Wharf Office, Melbourne

GERMAN pension fund Deka Immobilien Investment is reportedly paying $118 million for the South Wharf Commercial tower in Docklands.

The sale, reflecting a yield of about 7.75 per cent, ends a saga to sell the office that has lingered since just before the economic downturn, in late 2007.

The office is part of the $750 million South Wharf precinct which also includes retail, residential and a hotel component. The office was sold by private developer Austexx, which owns the DFO chain, which is also for sale.

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MAB Sells NewQuay Shops, Docklands

MAB Corporation has sold two retail investments at its NewQuay precinct of Docklands for a total of $3.875 million.

The biggest premises at 24 NewQuay Promenade measures 427 square metres (about the size of four standard shops) and is leased to Metro Real Estate which pays a current rent of $255,000 per annum.

On that basis the $3.55 million sale price reflects a yield of 7.2 per cent.

A second and much smaller retail premises at 7 Caravel Lane sold for $325,000 and on a yield of 6.3 per cent.

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CBUS to Build New NAB Office at Docklands

DEVELOPER CBus Property has secured the National Australia Bank as tenant for an as-yet-undeveloped office in Docklands.

The 61,000 square metre, 15-level tower is set to be developed at 700 Bourke Street, and near National Australia Bank’s world headquarters, on Victoria Harbour (at 800 Bourke Street) which it first committed to a decade ago.

The new building will also include a child care centre, and retail, according to a CBUS media release, and published on the Melbourne Docklands website.

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Mirvac Gets Ready to market Sixth Docklands Skyscraper

SYDNEY-based developer Mirvac will launch its sixth Docklands skyscraper, Yarra Point, in October.

Mirvac will adopt a design strategy used at its Tower 5 complex nearby, and the Melburnian, in St Kilda Road, by targeting top-end buyers with a high quality product.

This is reflected in the sale price, where one-bedroom flats are expected to be priced from $500,000.

The distinctive $200 million tower, 31-level tower will include 201 apartments in one, two and three bedroom configurations.

Yarra Point will include a rooftop garden, communal barbecue facilities and a gym atop a fifth level podium.

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Mirvac Starts Marketing Next Docklands Skyscraper

Yarra's EdgeSYDNEY-based developer Mirvac will launch its sixth Docklands skyscraper, Yarra Point, in October.

Mirvac will adopt a design strategy used at its Tower 5 complex nearby, and the Melburnian, in St Kilda Road, by targeting top-end buyers with a high quality product.

This is reflected in the sale price, where one-bedroom flats are expected to be priced from $500,000.

The distinctive $200 million tower, 31-level tower will include 201 apartments in one, two and three bedroom configurations.

Yarra Point will include a rooftop garden, communal barbecue facilities and a gym atop a fifth level podium.

At its entrance, Mirvac’s new tower will include a double-storey lobby with mature trees, a garden of succulent plantings and bluestone pavings that extends into the building from the adjacent, one-hectare Point Park.

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One of a Handful of Dockland Terrace Homes Hits the Market With $5 Million Price Tag

IF YOU like the idea of living at Docklands, but aren’t sold on moving to a high rise apartment – then one of a handful of terrace homes at Mirvac’s Yarra’s Edge precinct might be for you.

But with a price tag of about $5 million – the luxury of living at Yarra’s Edge’s only low-rise, strata free homes, is for a select few.

An associate director of Patersons Securities is selling a new four-level townhouse at South Wharf Drive, ahead of a move to Perth.

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Penguin Books Reportedly Moving to Docklands, Melbourne

PENGUIN Books is understood to be in advanced negotiations to lease new offices in Melbourne’s inner west.

Sources say the publisher, which is currently based at 250 Camberwell Road, near the Camberwell Junction, will lease around 8000 square metres at the Kuok-Walker controlled Goods Shed South, in Docklands.

It was just nine years ago the publisher leased 5000 square metres in Camberwell, an office building developed by Morry Schwartz’s Pan Urban on leasehold land owned by the St John’s Anglican Church.

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Marsh Mercer Reportedly Moving to Melbourne’s Docklands

ONE of the year’s biggest inner-city office lease deals is believed to be taking place in Docklands.

Its understood financial services giant Marsh Mercer will relocate from two CBD offices, at 555 Lonsdale Street, and 11 Exhibition Street, and move to a 23,000 square metre high-end office, in a pocket of Docklands controlled by the Kuok Group and Walker Corporation.

Marsh Mercer would be the latest in a string of financial services giants to relocate to Melbourne’s waterfront. ANZ and National Australia Bank are the two biggest tenants in the area.

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Vivas Lend Lease Announces Docklands Next Apartment Tower, Serrata

Serrata interiorDOCKLANDS next major apartment tower is set to take shape at 815 Bourke Street.

Vivas Lend Lease this month announced plans to develop Serrata, a 15-level, 144-unit complex, between Victoria Harbour and the Yarra River.

A Vivas Lend Lease representative says the development provides an opportunity for Generation Y “first home buyers” with a desire for city living to get into the market.

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Austexx Sells South Wharf Office For $115 Million

AUSTEXX – the owner of the $1.5 billion DFO retail chain – has offloaded an office building in Melbourne’s frantic South Wharf precinct.

German fund Deka Immobilien Investment is reported to be paying about $115 million for the 12-level office, home to Kraft, Baulderstone and shipping giant ANL.

The office was for sale at the peak of the property boom in 2007, but was withdrawn once the economic downturn took hold, while construction continued and the space was leased.

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