LPD Sells Office Component of Armadale Complex For $14.5 Million

LITTLE Project Developments – the construction company of local billionaire entrepreneur Paul Little – has reaped $14.5 million selling off the commercial component of a five-level building in Armadale.

The 863 High Street asset includes 615 square metres of retail space, 2567 square metres of A-grade offices, and 64 car parks.

For years until it was demolished in 2009, the site was home to the Geddes antiques store. LPD has also built and separately sold townhouses and apartments on the site.

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CR Kennedy Site, South Yarra, Relisted For Sale

ONE of last year’s biggest development site sales has fallen through forcing the asset to be relisted for sale this week.

The South Yarra property at 661 – 669 Chapel Street is one of the last undeveloped sites within a former industrial precinct known as Forrest Hill that is being rebuilt by various builders as a new village with residential and office skyscrapers.

Occupied and still owned by photographic distributor CR Kennedy, the 3537 square metre site was reported to have sold for $25 million last December to design practice Metier3, which had just offloaded its interest in a Docklands office worth $240 million. It was expected Metier3 would exploit the South Yarra site’s 65 metre frontage to Chapel Street with an apartment-based village.

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Stonnington City Council Approves 227 Toorak Road Redevelopment

ANZ’s former data centre building in Toorak Road is to be demolished and replaced with a $100 million luxury apartment tower.
 
Stonnington City Council this week approved the demolition of the 227 Toorak Road office, which ANZ sold for $33 million in 2007 to Little Project Developments, the construction company of Toll Holdings chief, Paul Little.
 
The redevelopment will see all Toorak Road car access closed off permanently. The apartment tower that will replace the ANZ office, will be set back 45 metres from the road.

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South Yarra’s Best Located Eyesore to be Replaced with $100 Million Tower

Proposed new towerOutgoing 227 Toorak Road, South Yarra siteSOUTH Yarra’s best located eyesore may be demolished and replaced with a chic $100 million apartment tower – designed by the same architect that penned Melbourne’s distinctive Rectangular Stadium.
 
Little Project Developments has lodged a development application with the Stonnington City Council to build a 24-level, 350-unit apartment complex on the site of an ANZ data centre at 227 – 233 Toorak Road, near the busy Chapel Street intersection.
 
LPD paid ANZ about $33 million for the office in 2007, and was expected to incorporate the 1970s brick building into a new 32-level residential development, possibly adding a second tower to vacant land at the rear of the site.

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