EG Funds Management – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 13 Dec 2011 04:00:24 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png EG Funds Management – realestatesource https://www.realestatesource.com.au 32 32 EG Funds Management Proposes Redevelopment of Prominent Kensington Site, Melbourne https://www.realestatesource.com.au/eg-funds-management-proposes-redevelopment-of-prominent-kensington-site-melbourne/ Tue, 13 Dec 2011 04:00:24 +0000 http://realestatesource.com.au/wordpress/eg-funds-management-proposes-redevelopment-of-prominent-kensington-site-melbourne.html 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.

]]> The developer said it may seek recourse by applying directly with planning minister Matthew Guy.

Link: http://www.theage.com.au/victoria/building-plans-worry-arts-hub-20111212-1oreo.html

 

]]> Caydon Reportedly Behind $16 Million Brunswick Development Site Purchase, Melbourne https://www.realestatesource.com.au/caydon-reportedly-behind-16-million-brunswick-development-site-purchase-melbourne/ Sun, 19 Sep 2010 04:43:08 +0000 http://realestatesource.com.au/wordpress/caydon-reportedly-behind-16-million-brunswick-development-site-purchase-melbourne.html 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.
]]> The 21 – 27 Brunswick Road site which has a wide frontage to Barkly Street at the rear, was offloaded by Sydney-based investment group EG Funds Management which paid just $8.7 million for it in October 2008.

EG purchased the site off manufacturer and textile distributor Charles Parsons, which previously owner occupied the factory.

A Caydon representative was unavailable to comment about the speculation. Vinci Cabone directors Joseph Carbone and Frank Vinci are understood to have sold the development site, but declined to comment.

In April Caydon paid Vision Australia $21 million for a High Street, Prahran development site, with a permit for a 330-unit apartment complex and ground floor retail.

Last September, Caydon paid Mirvac $12 million for a 5000 square metre development site at 291 – 311 Burwood Road, overlooking the Glenferrie Oval in Hawthorn. Sold with a permit for an 18,800 square metre office, Caydon will instead rebuild the block as flats.

Caydon is also developing what will be Richmond’s tallest residential tower (outside of commission flat buildings), rising nine levels from the Viva Plastics site at the busy Punt Road onramp of the Monash Freeway, near the Nylex sign and silos.

Earlier this year, Caydon finalised construction of Axiom, a seven-level, 81 unit apartment building in Hopkins Street, Footscray. It is also developing the Amia apartment building at the north-west corner of Nicholson Street and Brunswick Road, near its latest acquisition.

Elsewhere in Melbourne this week, a 1.5 hectare residential development site abutting the Stonington mansion in Glenferrie Road, Malvern, sold to China based developer Everbright Group for about $30 million.

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