Regional Victoria – realestatesource https://www.realestatesource.com.au Commercial and residential property news Thu, 28 Jun 2012 04:12:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Regional Victoria – realestatesource https://www.realestatesource.com.au 32 32 Ingenia Communities Sells Corio Retirement Village to Residential Developer For $3.1 Million https://www.realestatesource.com.au/ingenia-communities-sells-corio-retirement-village-to-residential-developer-for-31-million/ Thu, 28 Jun 2012 04:12:57 +0000 http://realestatesource.com.au/wordpress/ingenia-communities-sells-corio-retirement-village-to-residential-developer-for-31-million.html INGENIA Communities, formerly controlled by Dutch investment giant ING and from earlier this month, a separate ASX listed company, has sold the Lovely Banks Gardens near Geelong.

The 65-unit village Corio village sold conditional on a rezoning which would allow for a residential redevelopment. A Victorian developer is said to be purchasing the site near Lindsay Fox's Avalon Airport.

In 2010, Ingenia ruled the "poor performing" asset as "non core" to its portfolio. It will pump funds from the sale into other developments, conversions and acquisition opportunities it is hoped will earn a return-on-investment of some 20 per cent.
]]> Earlier this month the fund paid $2 million for Ridge Estate Village in the NSW Hunter Valley.

]]> East Gippsland Newspapers to Move From 120-Year Bairnsdale Home https://www.realestatesource.com.au/east-gippsland-newspapers-to-move-from-120-year-bairnsdale-home/ Tue, 10 May 2011 04:00:06 +0000 http://realestatesource.com.au/wordpress/east-gippsland-newspapers-to-move-from-120-year-bairnsdale-home.html EAST Gippsland Newspapers is a step closer to relocating its editorial headquarters and printing facilities to out of town.

Last month, the East Gippsland Shire Council amended a zoning affecting a site at 870 Princes Highway, in Hillside, on the western outskirts of Bairnsdale – where EGN wants to build its next centre of operations.

EGN has outgrown its MacLeod Street office and is leaving Bairnsdale after almost 120 years. Its proposed new Hillside headquarters, which relied on this council amendment to get moving, will be prominent to rail as well as road commuters heading into the township, as it also abuts the Melbourne Bairnsdale Railway Line.

 

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