RMIT – realestatesource

IT’S incredible to think Bundoora’s University Hill project, which upon completion will have an end value of more than $1 billion, is being developed on 104-hectares of largely disused farmland local developer MAB Corporation bought from the Royal Melbourne Institute of Technology in 2004 for just $21 million.

Measured by end value, the project, 20 kilometres north of CBD and on land which also once accommodated the Janefield Special School, is one of Victoria’s biggest urban renewals. In seven years, land around the picturesque Plenty Gorge has slowly been replaced with shopping centres, offices, aged care facilities and housing estates.

Victoria

Grocon Proposes 90-Level Skyscraper For Disused CUB Site, Carlton

September 18, 2010 Marc Pallisco carlton, Grocon, New Melbourne CBD Apartment, RMIT

THE Melbourne CBD skyline will have a Eureka of the north, if a proposed 90-storey skyscraper is granted approval, on part of the former Carlton and United Brewery site, in Carlton, and on the cusp of the city grid.

The building will include 800 apartments and soar 280 metres, making it slightly shorter than the landmark Eureka tower, in Southbank – which rises 89 levels and has 550 apartments.

Dubbed by developer Grocon as the DCM building, in honour of architect firm Denton Corker Marshall, the land had originally been earmarked to become an office building, before the economic downturn.

Grocon owns a majority of the undeveloped site, hidden behind bluestone walls. It bought the 1.6 hectare site from RMIT for $39 million in 2006. RMIT retained a small portion of the block.

Victoria

CBD Student Accommodation Development Site Fetches $18 Million

November 22, 2009 Marc Pallisco Melbourne CBD development site, RMIT, student accommodation

PROMINENT property investor Michael Buxton has sold one of the city’s biggest student accommodation development sites for $18 million.

The 410 Elizabeth Street office building, which Mr Buxton bought off the Royal Melbourne Institute of Technology five years ago for $8.25 million before obtaining a redevelopment permit, is expected to make way for a 50-level, 240-unit tower.

According to council reports, the new tower is expected to be delivered over the next three to five years.

Victoria

RMIT’s Outgoing Building 87 to be Sold With Permit For 50-Level Apartment Tower

October 4, 2009 Marc Pallisco buxton, Hamton, residential development site, RMIT, tenant move

A CBD building, offloaded by the Royal Melbourne Institute of Technology five years ago, has been listed for sale this week as a major residential development site.

The 410 Elizabeth Street office, known to RMIT staff and students as Building 87, will be sold with a development permit for a 50-level apartment building, capable of accommodating hundreds of units.

The property is owned by developer Michael Buxton, who paid RMIT $8.25 million for the office in 2004, before working on obtaining a residential development permit.

Victoria

Watpac to Build $62 Million RMIT Building on Former Carlton & United Brewery Site, Melbourne

July 7, 2009 Marc Pallisco carlton, CUB, RMIT

Watpac Limited’s (ASX: WTP) Construction division has been awarded the construction of the RMIT University Design Hub, with a contract sum of $62 million.

The high-profile project will be located at the strategic north-west corner of Swanston and Victoria Streets, on the site of the former Carlton United brewery.

Watpac Construction National General Manager, Martin Monro, said the award of this landmark project represented a key milestone in the company’s strategy of growth in the Victorian market.

“Watpac has worked diligently to expand our Construction division in Victoria, and the award of this significant project—our largest to date in this market—is an endorsement of our team and their dedication to building on our reputation for excellence and quality,” Mr Monro said.