RSL to Sell Prominent Beaumaris Facility

AHEAD of a move to an as-yet-undeveloped facility at Cheltenham, the Returned and Services League is selling its Beaumaris facility in a deal expected to pocket the club around $17 million.

The 1.1 hectare property (aerial shot, right) has a large frontage to exclusive Bolton Street. According to the RSL’s website, the site is 300 metres above sea level at the suburb’s highest point.

The clubhouse, which is expected to be demolished after the sale, is also currently used by the suburb’s Lions Club, Legacy Widows’ Club, and a unit of the Red Cross.

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JG King, Massi, Buy Into $80 Million Clifton Hill Housing Estate

FOLKESTONE and AMP Capital Investors have sold part of a major $80 million residential development in Clifton Hill.

A joint venture consortium including major suburban home builder JG King Homes, and Massi Property Solutions, have paid an undisclosed sum for a major piece of the Clifton Hill site, at the corner of Noone and East Grey streets, near the northern fence of the Eastern Freeway.

The site, formerly occupied by Spicers and used as a clothing dye factory, was part of a much larger property acquired by Folkestone and AMP for a speculated $14 million in June 2007.

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