Paul Little – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 19 Jun 2012 10:00:29 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Paul Little – realestatesource https://www.realestatesource.com.au 32 32 LPD Sells Office Component of Armadale Complex For $14.5 Million https://www.realestatesource.com.au/lpd-sells-office-component-of-armadale-complex-for-145-million/ Tue, 19 Jun 2012 10:00:29 +0000 http://realestatesource.com.au/wordpress/lpd-sells-office-component-of-armadale-complex-for-145-million.html LITTLE Project Developments - the construction company of local billionaire entrepreneur Paul Little - has reaped $14.5 million selling off the commercial component of a five-level building in Armadale.

The 863 High Street asset includes 615 square metres of retail space, 2567 square metres of A-grade offices, and 64 car parks.

For years until it was demolished in 2009, the site was home to the Geddes antiques store. LPD has also built and separately sold townhouses and apartments on the site.
]]> “The high quality of the building and its prime location in the heart of Armadale’s retail/commercial precinct were key factors in securing investor interest,” said Knight Frank director Ken Smirk.

“The office market in Melbourne’s inner eastern suburbs has performed particularly well over the past year or so, with very low vacancy and strong rental growth. This has maintained a high level of investor interest in the region.”

Backed by a rental guarantee by the vendor, the building sold on an initial yield of 8.3 per cent.

]]> Land Behind Geddes Antiques, Armadale, to Become Boutique Apartments https://www.realestatesource.com.au/land-behind-geddes-antiques-armadale-to-become-boutique-apartments/ Sun, 17 May 2009 17:22:04 +0000 http://realestatesource.com.au/wordpress/land-behind-geddes-antiques-armadale-to-become-boutique-apartments.html CONSTRUCTION of a boutique apartment building, on what was once land behind the Geddes Antiques stores in High Street Armadale, is set to start in July.
 
The 3-level, 8-unit building, with the new street address of 44 New Street, is being developed by Little Project Developments, a construction company owned by Toll Holdings boss Paul Little.
 
Prices start at $735,000 for a 2-bedroom, 2-bathroom unit, rising to $1.345 million for an apartment with 3-bedroom and a study.
 
Apartments within the development will include quality fittings, kitchens with Miele appliances and extensive timber cabinetry, high-tech security, built in water tanks and two car parks with lift access. A further five car spaces are available for sale.

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