EG Funds Management – realestatesource

Sydney-based developer EG Funds Management has lodged plans to replace a rundown Kensington wool store (pictured, right) with a major residential village.

The 110-year old historic building, next door to flour processing plant Allied Mills, whose factory is prominent to commuters taking the Bolte Bridge, is expected to be retained in any redevelopment.

EG is seeking to build at least one tower, rising up to 12 levels, on its site, according to The Age which reported the development application that has been rejected by council.

Victoria

Caydon Reportedly Behind $16 Million Brunswick Development Site Purchase, Melbourne

September 19, 2010 Marc Pallisco Brunswick East, Caydon, EG Funds Management, Little Project Development

LOCAL builder Caydon has purchased another major development site, this time in Brunswick East, and at the suburb border of Carlton North and Fitzroy North.

The Collingwood based developer is understood to have paid about $16 million for a one hectare disused factory at 21 – 27 Brunswick Road, near the corner of Nicholson Street where it is completing another project.

Caydon is reportedly planning to redevelop the old factory site into a $120 million village of apartment towers, shops and offices.

At that value, the project will be even bigger than the controversial Tip Tip factory redevelopment around the corner, being undertaken by Toll boss Paul Little’s building arm, Little Project Development.