MAB Unveils Docklands Newest Street: Millionaires Only

DOCKLANDS newest street – overlooking the water – and developed only with multimillion dollar townhouses – was launched earlier this month.

MAB Corporation sold all 18 low-rise homes marketed as Marina Residences prior to completion and for prices of up to $4.65 million.

The homes, each with water and city views, were developed over a reconstructed wharf in the developer’s NewQuay precinct. Each includes a plunge pool, four car garage, home theatre, home office and outdoor terrace.

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MAB Replaces Westgate Toll Collection Facility, Port Melbourne, with Expressway Business Park

GOVERNMENT human resource officers take note – another private development company is about to prove Treasury missed a chance to substantially boost its coffers.

MAB Corporation is slicing, dicing and readying to profit from a 3.1 hectare Port Melbourne facility it bought from the state government for a low $12.65 million six months ago (in a deal it didn’t have to pay stamp duty for).

The 12-62 Cook Street site was for years the toll collection facility for the West Gate Bridge. The easternmost boundary of the site offers 500 metres of exposure to an offramp of the West Gate Freeway, where 160,000 vehicles pass per day.

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Sunland Unveils New Project, Eton, in Melbourne’s Bundoora

IT’S incredible to think Bundoora’s University Hill project, which upon completion will have an end value of more than $1 billion, is being developed on 104-hectares of largely disused farmland local developer MAB Corporation bought from the Royal Melbourne Institute of Technology in 2004 for just $21 million.

Measured by end value, the project, 20 kilometres north of CBD and on land which also once accommodated the Janefield Special School, is one of Victoria’s biggest urban renewals. In seven years, land around the picturesque Plenty Gorge has slowly been replaced with shopping centres, offices, aged care facilities and housing estates.

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MAB Plans $60 Million Business Park to Replace West Gate Collection Point, Port Melbourne

MAB Corporation plans to build a $60 million business park at a prominent Port Melbourne site it bought last month from the redundant Brumby government (highlighted, red, right).

The St Kilda Road based private developer, which at one stage was linked to buying Doncaster’s massive Eastern Golf Course, says it expects to lodge redevelopment plans for its new Cook Street site by the middle of this month. The Port Melbourne property is due to settle on January 7, 2011.

MAB commercial and industrial general manager Richard Johnston said the former Vicroads toll collection facility for the West Gate Bridge has a 500 metre frontage to the West Gate Freeway, and passing traffic of some 160,000 vehicles a day.

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Indian Restaurant Leases Prominent Retail Space at MAB’s New Quay, Docklands

AN upmarket Indian restaurant has leased a prominent Docklands retail space which has sat vacant for two years.

Shiraaz will replace the restaurant known as the Quay Bar and Brasserie, leasing 744 square metres of indoor and outdoor space at the ground level of 12 – 16 New Quay Promenade, a gateway building, within MAB Corporation’s New Quay precinct.

The building is prominent to anybody walking into New Quay from the CBD via Harbour Esplanade, and is at the eastern most edge of MAB Corp’s prominent piece of the $15 billion Docklands development.

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Planning Strategy Affecting 2400 Hectares Between Caroline Springs and Melton Being Formalised, Tenders Called

THE FORMER “thoroughbred country” of Melton is a step closer to becoming part of metropolitan Melbourne, with the council formalising a major planning strategy affecting 2400 hectares of vacant land – effectively creating two new suburbs and allowing for the area’s population to more than double within 15 years.

The affected land between Paynes Road at Rockbank (some 30 kilometres from town) and Toolern Creek, at Melton South (40 kilometres away) is proposed to make way for two new activity centres, shops, offices, a new train station, and low, medium and high density residential.

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Land Increases From $20 psm to $430 psm in Bundoora

IF you told a Valuer ten years ago that land values around a rundown former hospital 17 kilometers north of Melbourne could fetch $430 per square metre, they’d have probably laughed.

But that’s exactly what Queensland-based developer Sunland has been able to achieve for land at a picturesque point within the 104-hectare former Janefield Hospital site, in Bundoora – which first sold to developers seven years ago for just $20 per square metre of land.

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MAB Corp to Sell Prominent Docklands Restaurant

ONE of Dockland’s distinctive “waterfront pod” restaurants will be sold.

MAB Corporation is selling the glass two-storey building currently trading as the Berth restaurant and bar, with a street address of 45 New Quay Promenade, in the New Quay precinct of Docklands.

Berth currently pays $360,430 per annum to occupy the restaurant, and is committed to a five year lease, with three further options, giving it a wide berth to stay until 2030.

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