walker corp – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 08 Feb 2011 04:10:36 +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 walker corp – realestatesource https://www.realestatesource.com.au 32 32 Lang Walker to Pocket $200 Million From Point Cook Town Centre Sale, Melbourne https://www.realestatesource.com.au/lang-walker-to-pocket-200-million-from-point-cook-town-centre-sale-melbourne/ Tue, 08 Feb 2011 04:10:36 +0000 http://realestatesource.com.au/wordpress/lang-walker-to-pocket-200-million-from-point-cook-town-centre-sale-melbourne.html SYDNEY-based billionaire property developer Lang Walker is hoping to achieve about $200 million from the sale of a near new shopping centre, in a near-new suburb, in Melbourne’s west.

Funds from the sale of the Point Cook Town Centre will go toward funding the development of Australia’s largest single office development – Collins Square, in Docklands.

Collins Square will include five office buildings, flanked by a lower level shopping centre, exploiting the 200 metre frontage of Mr Walker’s Docklands site. All up the project is expected to add 185,000 square metres of high end office space to the Melbourne market.
]]> The Australian Tax Office, Marsh Mercer and publisher Pearson Group have leased office space within Collins Square. According to the AFR, about 40 per cent of the development is pre-committed.

“We’re more comfortable with commercial than residential in Melbourne at the moment,” Mr Walker said.

Mr Walker is expected to sell some of those offices in the medium and long term.

The Point Cook Town Centre includes a Coles, Aldi, Target and Harris Scarfe as anchor tenants. It also includes 100 specialty shops and a 6230 square metre commercial component.

Elsewhere in Melbourne, Mr Walker is redeveloping the Kew Cottages site, in the ritzy east.

Other recent Lang Walker news:

SA Government Gives Lang Walker Green Light to Develop Buckland Park Project, Adelaide

Billionaire Lang Walker Snares ATO as Docklands Tenant

Lang Walker Pays $10 Million For Amcor Petrie Paper Mill, Brisbane

 

 

]]> MAB Corp Frontrunner to Buy Doncaster’s Eastern Golf Course For $120 Million https://www.realestatesource.com.au/mab-corp-frontrunner-to-buy-doncasters-eastern-golf-course-for-120-million/ Sat, 14 Nov 2009 12:42:45 +0000 http://realestatesource.com.au/wordpress/mab-corp-frontrunner-to-buy-doncasters-eastern-golf-course-for-120-million.html Tullamore @ The EasternMAB Corporation is believed to be the mystery buyer of Doncaster’s Eastern Golf Course site.
 
Well placed industry sources say the St Kilda Road-based privately owned developer is the frontrunner to buy the property, after offering to pay about $120 million to secure the 47-hectare site between the Eastern Freeway and Westfield Doncaster, about 15 kilometres east of town.
 
The 85-year old golf course, which includes native vegetation, indigenous trees and the historic Tullamore homestead, will be vacated in about 2013, when the Club relocates to an as-yet-undeveloped course abutting the Yering Gorge, in the Yarra Valley.
 
After that time, the new owner is expected to redevelop the Doncaster Road site into a $1 billion village of shops, offices and apartment towers. The majority of what is now a popular 18-hole golf course is expected to be subdivided into as many as 1,000 housing lots.
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A MAB spokeswoman declined to comment on the speculation when contacted by Capital Gain, as did Colliers International’s selling agents, citing a confidentiality agreement.
 
Any purchase would come three months after MAB appointed prominent former Mirvac and Walker Corporation executive, Kevin Hunt, to boost its residential division. One of Mr Hunt’s last major residential redevelopments was the 27-hectare Kew Cottages project, of which about 27 per cent was reportedly retained as public space.
 
It’s been speculated to Capital Gain that just 25 hectares of the Eastern Golf Course site is actually able to be developed.
 
In 2003, MAB paid $21 million for the 104-hectare Janefield Hospital site in Bundoora, most of which has been redeveloped into the $1 billion mixed use University Hill project. The NewQuay precinct of Docklands is amongst MAB’s other highest profile projects.
 
The Eastern Golf Course is the most valuable “infill” residential development site to hit the Melbourne market this year.
 
In September, another privately owned developer, Walker Corporation, entered negotiations to buy Amcor’s outgoing 17-hectare Alphington paper mill site for a reported price of just over $100 million.

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