Qatari Government Buys More Rural Australian Property

HASSAD – the agricultural arm of the Qatari government – is in negotiations to buy five properties in western Victoria, in a deal reportedly worth $45 million.

The portfolio will bring the value of Australian assets purchased by the overseas group in the past twelve months to over $100 million.

Hassad is said to be considering purchasing another major property in NSW from one of the Victorian vendors.

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Portsea Golf Club Resort a Step Closer After Club Sells Enough Sites to Fund Redevelopment

Portsea Golf ClubPLANS for a new $12 million clubhouse and hotel resort at the prestigious Portsea Golf Club have teed off, officially, after the Club successfully sold enough of its land to fund the new development.

Four of the five double blocks put to the market in February have now sold, with another two blocks now released for sale.

The Club is expected to bunker another $4 million from the remaining three blocks.

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New $20 Million Shopping Centre Earmarked For Yarrawonga

YarrawongaYARRAWONGA’s prominent Pigdon Motors site may be redeveloped into a relatively major shopping centre with a speculated end value of about $20 million.

The Moira Shire Council is reviewing an application to develop a 3,500 square metre supermarket, which would be leased to Woolworths, and 11 specialty shops, totaling 1170 square metres, on the site at the southern edge of the town centre.

Planning Minister Justin Madden recently approved an amendment to a planning scheme, allowing land to be rezoned to commercial use, in keeping with the Yarrawonga Strategy – 2005.

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Phillip Island’s Former Warley Hospital Sells

Former Warley HospitalTHE former Warley Hospital, which supported Phillip Island’s small but fluctuating population since 1923, is understood to have sold to developers.
 
Local industry sources expect the 4,106 square metre site will be developed into apartments over the next couple of years, but this could not be confirmed with Judith Wright selling agent Mike Foenander, who was unavailable for comment.
 
The hospital site is one block west from the main street of Phillip Island’s town centre, Cowes.

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