Historic Stonington Estate Being Sold Down Again: Melbourne

PART of the Stoningon mansion estate in Malvern, which was once the Governor General’s residence and which many Melburnians believe should never have fallen into private hands, is being sold-down by its Chinese developer owners.

Two subdivided suburban sized blocks within the former estate, which the state government effectively gave to Deakin University in the 1990s, and the university sold five years ago, are expected to fetch a combined $4 million, according to sources.

Totaling 1344 square metres the blocks (a small part on the much larger marked out area, pictured) are for sale with permits for apartment complexes. But they are also being marketed to prestige buyers who might consider building just one home on the land.

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Ringwood Regent Motor Inn Site Sells to Apartment Developers

IN the 1990s, it was considered one of the outer eastern suburb’s ritziest hotels.

But the former Sundowner Ringwood complex, since rebranded the Ringwood Motor Inn, has now sold to a residential developer with vacant possession.

The 31-year old, 39-room brick hotel is expected to be replaced with a higher density apartment based project which sources estimate will have an end value of more than $40 million and may include high rise buildings.

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VACCHO Pays $4.45 Million For Collingwood Office

THE Victorian Aboriginal Community Controlled Health Organisation Inc has paid $4.45 million for an office in Collingwood, in Melbourne’s inner north-east. VACCHO will owner occupy the building at 17 – 23 Sackville Street. The private sale was negotiated by Teska Carson. The vendor was Rainbow Display Systems.

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Sisters of Nazareth to Make $20 Million For 2.6 Ha Slice of Camberwell Backyard

THE SISTERS of Nazareth can expect to make about $20 million from a major slice of land behind its Nazareth House aged care facility, in Camberwell.
 
The 2.6 hectare vacant block is expected to wind up in the hands of a major developer, who will capitalise on the sites location abutting parkland, presumably with a medium-density apartment development.

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