BAYSIDE developer Gillon Group has quietly acquired a supersite at one of the south-eastern suburb’s busiest corners.
Gillon has negotiated with residential home owners, commercial property owners, VicRoads and the council to amalgamate some seven Brighton East lots into a 7500 square metre development site. At the north-west corner of Nepean Highway and South Road, the site incorporates Barr Street, and former public land.
It plans to rebuild the site – opposite the Kingston City Hall and Moorabbin train station – into a $100 million-plus mixed-use village with around 200 apartments in what could be a seven level tower.
Gillon has not disclosed the price it paid to buy and amalgamate the sites. Local agent sources however value the land at about $2000 per square metre, meaning Gillon’s block could fetch about $15 million if onsold.Read more