St Kilda Road Development Site Sale

AUSTRALIAN hotel owners Schwartz Family Corporation are selling a major St Kilda Road development site bordering Fawkner Park.

The family can expect around $53 million from the sale of The Fawkner Centre at 499 St Kilda Road, Melbourne, near the corner of Commercial Road, which acts as the Prahran and South Yarra suburb border.

The 6070 square metre site includes a 19-level, 21,377 square metre office pictured, right) that currently returns annual rent of $5.9 million.

Victoria

Deaf Children Australia to Sell a Portion of its St Kilda Road Site

December 30, 2010 Marc Pallisco development dispute, St Kilda Road Development Site Sale

APARTMENT construction at the bottom end of Albert Park Lake looks set to intensify with Deaf Children Australia listing major residential development site for sale, abutting Wesley College’s St Kilda Road campus.

Local agency sources expect DCA will reap between $16 – $20 million from the sale of the 5471 square metre site which is being marketed as a multi-level development site at lot 1, 597 St Kilda Road.

Most of the site is an open air car park with frontage to (the less exclusive) High Street, just west of Punt Road. The precinct is classified as Melbourne, with postcode 3004, however many of the occupants in the area, including Wesley and the Alfred Hospital, also classify their addresses as Prahran.