North Melbourne – realestatesource

THE cash-strapped Baillieu government is some $5.5 million richer after selling a prominent Parkville property to developers.

The former Parkville police station at 155 Royal Parade was listed for sale after the boys in blue relocated to a new four-storey facility in Wreckyn Street, North Melbourne.

On an 1802 square metre block and with two street frontages (see aerial picture, right), the site is expected to be replaced with an apartment complex exploiting unobstructed park views. It is unknown whether an original station building, developed in 1878 will be retained as part of the redevelopment.

Victoria

Prominent North Melbourne Development Site Expected to Fetch $20 Million

February 6, 2012 Marc Pallisco Melbourne development site sale, North Melbourne

ANOTHER development site has hit the market within the vicinity of the recently re-aligned Haymarket roundabout, where North Melbourne connects with Parkville and Carlton.

At 19 – 25 Flemington Road (highlighted, right), next door to a RMIT student village complex that was once the prestigious Apollo Old Melbourne Hotel, the 4000 square metre site is expected to fetch about $20 million and sell to a developer likely to replace the existing c1964 showroom with a landmark apartment tower.

Built for Southern Motors, the asset is being sold by interests associated with that owner-occupier, after being leased to short-term tenants over recent years.

Victoria

YHA Vic to Sell North Melbourne Backpackers Complex

June 15, 2010 Marc Pallisco Melbourne Inner City Development Site Sale, North Melbourne

THE Youth Hostels Association of Victoria is offloading a 56-room backpacker hostel at 76 Chapman Street, in North Melbourne.

The existing three-level building is expected to arouse interest from developers who may propose a higher density project for the 1023 square metre site, possibly with a component of public housing.

Alternatively, according to Teska Carson director Larry Takis, the existing building could be reconfigured into standard “own your own” apartments, and then onsold.