FKP Opens Up Prominent Melbourne CBD Corner

QUEENSLAND born, Sydney based property developer and investor FKP has opened up the ground retail level of a CBD office building occupying the prominent south-west corner of Lonsdale Street and Hardware Lane.

After being used as a non-retail break-out area by students at Taylors College for years, the 280 square metre space, formerly identified in the street by its dark tinted window-film, has been sub-leased to a unique new business which hopes to make an impact on Hardware Lane, considered one of the city’s highest character strips.

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Out With The Old at Phillip Island

THE owners of a 26-hectare Phillip Island farm, until three years ago owned by AMP Capital Investors and earmarked to become a retirement village, have applied to Bass Coast Shire Council to remove the entire aged-care component of the proposal.

The owner of the site paid AMP a reported $8 million for the Ventnor Road block and a permit for a 184-lot residential subdivision.

A major aged-care complex and community facilities were required to be developed as part of that permit. However, the council will now decide on whether to issue a new permit resulting in the entire farm, about three kilometres south-west of the centre of Cowes, being subdivided into 304 standard residential lots.

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FKP Buys Sydney’s Eye and Ear Hospital Site

Woolloomooloo BayFKP Property Group has purchased Sydney’s eye hospital site in the inner-city suburb of Woolloomooloo, for an as yet undisclosed amount.

FKP executive general manager Evian Delfabro confirmed the purchase of the site from the Tieck family which paid $15 million in 2002.

The 1986 square metre site on Sir John Young Crescent was reported to have been worth about $25.5 million in 2008.

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Aerial Penthouse, Camberwell, Expected to Fetch About $4 Million

Queensland born and now Sydney-based developer FKP has listed for sale the one and only penthouse within its contentious Aerial project, at the Camberwell Junction, in East Hawthorn (pictured, right).

The 388 square metre unit is at the top floor of Aerial’s west tower and includes four bedrooms, four car spaces and a 128 square metre balcony. It also has floor-to-ceiling windows offering uninterrupted city skyline views.

The Victorian Civil and Administrative Tribunal approved Aerial in early 2008, and then in 2009, allowed the developer to increase the number of units within the development by 40 per cent, to 144.

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FKP to Sell 399 Lonsdale Street, Melbourne

QUEENSLAND-born developer and fund manager FKP has quietly listed another major CBD asset for sale.

FKP, which recently relocated its headquarters to Sydney, can expect some $35 million, sources say, for the fully-leased office at 399 Lonsdale Street.

The 10-storey building, on the south-west corner of Hardware Lane, was developed in 1986 and fully refurbished in 1993 and 1997. It includes 10,176 square metres of office space, and is fully leased to education service provider Taylors College.

In recent years, the top of the city has become a private education service hub. Last March, education entrepreneur Shesh Gale, owner of the Melbourne Institute of Technology, paid $15 million for the historic Argus building at the north-west corner of La Trobe and Elizabeth streets, which will reopen as a school after a refurbishment.

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Locals Buy Into FKP’s Camberwell Junction Redevelopment, Getting Construction out of the Ground

Aerial CamberwellSOME Camberwell residents are not practicing what they preach.

Research by developer FKP, shows 90 per cent of sales at a controversial apartment project being developed at the Camberwell Junction, have been to residents within a five kilometre radius of the site.

FKP would not disclose how many of the 144 available apartments it has sold at its Aerial project, but confirmed it was enough to get construction out of the ground.

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FKP Gets Started on $600 Million Saltwater Coast Estate, Point Cook

Saltwater CoastIT was one of the most prized assets in the substantial portfolio of Hawthorn-based Wilbow Corporation, when that developer put itself up for sale four years ago.

And now, construction of the first homes in the $600 million village that is Melbourne’s newest waterfront community, is set to begin.

Queensland-based developer FKP has distributed land titles for the first 87 home lots, part of its Saltwater Coast project in Point Cook, about 20 kilometres south-west of town.

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FKP Launches Aerial, at Camberwell Junction’s Former Henley Honda Site

Aerial CamberwellTHE site that became the subject of a messy planning dispute between Melbourne’s most ambitious planners, and arguably its most conservative council – is ready to be developed.
 
Last Thursday, Sydney-based developer FKP officially launched Camberwell’s Aerial project, to be developed on the former Henley Honda site at the busy Camberwell Junction.
 
The proposal will include two nine-level glass apartment towers with 144 units, a 14-level glass office building and a shopping centre. Aerial is due for completion in 2012.

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