Developer Pays $90 Million For 256 Hectare Melton South Site

A DEVELOPMENT parcel in Exford Road, Melton South, has sold to Geelong-based developer Peter Mortimer for about $90 million.

The 256 hectare site on Exford Road includes 186 hectares of developable land, according to the AFR which reported the deal today.

Two primary schools and 13 hectares of recreational space are also earmarked for the site, as is a new town centre, community space and 3100 new dwellings.

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Hudson Conway Speculated to be Buying St Kilda Road’s Former Vision Australia Site For $22 Million

St Kilda Road Belgian Beer CafeDEVELOPER Hudson Conway is speculated to be paying about $22 million for a prominent St Kilda Road development site opposite Wesley College, capable of accommodating several high rise apartment towers.

Hudson Conway is believed to be in advanced negotiations to buy the St Kilda Road site, which Sydney-based developer Stockland purchased off Vision Australia for $28.3 million in 2007.

Stockland reportedly sold the subdivided Belgian Beer Cafe bluestone building that was part of the Vision Australia property, for a speculated $7 million last year, after undertaking a $2 million renovation.

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Another Major South Yarra Development Site Hits the Market

THE WELL walked path between the South Yarra train station, and Chapel Street, could see even more construction activity in 2010.

A major development site at the north-east corner of Toorak Road and Claremont Street, is set to hit the market soon, and sell for about $25 million.

The South Yarra site is expected to arouse interest from residential developers who can cite the Melbourne @ 5 Million planning strategy, to propose a high density project.

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Australand Pays $11.9 Million For Nine-Hectare Rowville Development Site

AUSTRALAND has paid $11.9 million for nine hectares of business zoned land in the south-eastern Melbourne suburb of Rowville.

“If ever there is a sign that the market is looking more positive, its when you start to sell development sites,” Colliers International’s Barry Marks told the AFR, which reported the sale.

Anthony Maugeri, southern region manager for Australand, said the group would consider selling Stud Road land outright. It will also offer land and build-and-leasing packages.

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St Kilda’s Former Post Office Sells For $4.75 Million to Asian Apartment Developer

St Kilda Post OfficeST Kilda’s historic Post Office building, at the corner of St Kilda Road and Inkerman Street, has sold to an Asian developer for $4.75 million.

The 1,236 square metre site at 306 – 310 St Kilda Road, sold with a permit for a five-level, 40-unit serviced apartment building, with a ground floor restaurant to be built into the existing Post Office building.

The sale reflects a price of about $3,843 per square metre of land.

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Villa Maria Pays $8.75 Million For Camberwell Development Site

NOT for profit organisation and retirement village specialist Villa Maria has paid $8.75 million for a 6,215 square metre Camberwell development site.
 
The 450 Camberwell Road property was sold with a permit for a 64-unit retirement village, capitalising on the site’s other street frontages to Athelstan Road, and Bowen Street, opposite the Camberwell Central Bowling Club.
 
Nichols Crowder director Matt Nichols sold the Camberwell property on behalf of the Macquarie affiliated Retirement Villages Group. Buildings on the site were once used by the Salvation Army. RVG recently sold a slice of the land to another aged care developer.

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