Ingenia Communities Sells Corio Retirement Village to Residential Developer For $3.1 Million

INGENIA Communities, formerly controlled by Dutch investment giant ING and from earlier this month, a separate ASX listed company, has sold the Lovely Banks Gardens near Geelong.

The 65-unit village Corio village sold conditional on a rezoning which would allow for a residential redevelopment. A Victorian developer is said to be purchasing the site near Lindsay Fox’s Avalon Airport.

In 2010, Ingenia ruled the “poor performing” asset as “non core” to its portfolio. It will pump funds from the sale into other developments, conversions and acquisition opportunities it is hoped will earn a return-on-investment of some 20 per cent.

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ALP’s Commission Flat Building Boom Underway Without Community Consultation

THE Federal Government’s contentious plan to build record amounts of commission flats and social housing around your streets, and without proper community consultation – seems to finally have caught the attention of the wider community.

Despite anger in some States that details about the mass roll-out of commission flats have been deliberately kept from the community – the State ALP governments are pushing ahead with major public housing projects.

State governments need to do so in an attempt to collect part of the massive taxpayer-funded $5.6 billion the Federal ALP government has allocated to the initiative, for projects completed before a 2012 deadline.

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Hawthorn FC Executive Stuart Fox to Sell Gherang Estate

HAWTHORN Football Club chief executive Stuart Fox, and wife Sybella, are selling the Wirraminna farm they acquired in 2002 in Gherang, via Moriac – some 10 minutes north east of Anglesea, and 15 minutes east of Torquay.

Translated as “peaceful beside the water”, Wirraminna spreads over two hectares and includes three rainwater tanks, two paddocks and a dam which could accommodate horses or cattle.

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Former Geelong Grammar School For Sale

A PIECE of Geelong history has hit the market.

The 47-room former Geelong Grammar School (pictured, right), built in 1857 and occupied by the college until 1914, is expected to sell to a developer, investor – or maybe even a millionaire resident.

The tudor-gothic style former school at 55 Maud Street was sketched by architects Backhouse and Reynolds, who won a competition to design the campus.

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Denis Walter to Sell Historic Geelong Home

SINGER turned radio commentator Denis Walter and wife Annette are selling a historic Geelong home.

Tandara, at the corner of Shannon Avenue and Noble Street, is a five-bedroom Federation residence built 101 years ago. Heritage features include pressed metal ceilings, home theatre and a swimming pool.

In Newtown, the home is being sold by set date on June 30, and is expected to sell for more than $1.1 million. Barry Plant Highton’s Tony Slack is the marketing agent.

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Landmark Gnarwarre Estate Expected to Sell For $8 Million

THOROUGHBRED owner and tuna farmer Tony Santic is offloading a 1725 hectare lifestyle property in Gnarwarre, near Geelong.

Roxby South, the 1725 hectare estate where three-time Melbourne Cup winning racehorse Makybe Diva is retired and has bred, is expected to sell for about $8 million.

The estate includes several buildings, 13 dama, 14 large grazing paddocks, 450,000 gallons of water storage tanks and about 20 kilometres of post and rail fencing.

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Costa Property Group Teams with Integrated Development to Deliver $40 Million Village Near Geelong

GEELONG identity Frank Costa has entered a joint venture agreement to redevelop 40 hectares of land in Armstrong Creek near Geelong.

Costa Property Group will team with Integrated Development to build the $65 million, 400-lot residential village called Baron Rise, on the corner of Barwon Heads and Reserve roads, south-east of the Marshall train station near Grovedale. The affected land is currently being rezoned as part of the Horseshoe Bend Precinct Structure Plan.

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Ricky Munday Selling Geelong Mansion

PUB baron Ricky Munday is selling a historic home in Geelong’s trendy inner-city suburb of Newtown.

Mr Munday is asking $2.75 million for the four-bedroom plus two study double storey mansion, which Robert Creece Real Estate’s Peter Bell is marketing for private sale.

National Australia Bank placed the Geelong-based Munday Group in receivership earlier this year and after the pub baron failed to sell his company’s eight Victorian hotels, which included 432 gaming machines.

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Geelong Commission Flat Site Listed For Private Sale

Geelong's Next Commission FlatsWHILE attention in Geelong’s this week has circled the ‘approved-by-stealth’ public-private housing redevelopment of the city’s former TAFE site, another high profile property – given the green light last year to become one of the federal government’s 80,000 social and affordable new dwellings – failed to sell at auction.

Grey concrete silos at 46 – 48 Mercer Street, at the corner of Roy Street, and near the town centre – has now been listed for private sale through Colliers International at $1.95 million.

A 40-unit affordable housing development has been approved to be developed within the walls of the high-rise silos, prominent on the drive in to Geelong.

The Rudd government aims to substantially boost the number of social and affordable houses nationally by 2012.

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