West Melbourne – realestatesource https://www.realestatesource.com.au Commercial and residential property news Fri, 30 Oct 2020 05:25:37 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png West Melbourne – realestatesource https://www.realestatesource.com.au 32 32 Major Proposal Being Reviewed For West Melbourne https://www.realestatesource.com.au/major-proposal-being-reviewed-for-west-melbourne/ Sat, 11 Feb 2012 04:10:11 +0000 http://realestatesource.com.au/wordpress/major-proposal-being-reviewed-for-west-melbourne.html IN THE week the Melbourne City Council legislated for higher-density development in the inner north-western suburbs, it can also be revealed Planning Minister Matthew Guy is reviewing plans to replace two historic West Melbourne factories with two landmark apartment buildings – the tallest soaring 44 levels.

The sites, at 371 – 379 Spencer Street and 83 - 113 Batman Street, will be combined to create a new village with a gross floor area of some 85,000 square metres – about the same size as the Rialto.

Proposed by local investment house Bennelong Group, two towers – one rising 39 levels, and another, 29, will be developed atop a five level podium which will include 548 car park bays and 223 bike spaces.

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In total, the project will include 749 apartments and 235 square metres of retail space (the equivalent of two standard High Street style shops).

Apartments within the proposed development will capture views over the Melbourne Remand Centre toward Port Phillip Bay.

A Bennelong Group representative told Capital Gain that through a consultative process with government, it has created a high-quality but affordable proposal. It has been working on the village, which includes a 20-metre lap pool and a gym, for three years.

Once part of the West Melbourne rail yards, Bennelong acquired the sites from Multiplex in March 2006, as part of a $32 million portfolio.

Multiplex paid the Silman family $40 million about a year earlier for a much larger collection of adjoining sites. Batman Street is tree lined and terminates at Adderley Street which is also the Docklands border.

On Wednesday, the Melbourne City Council approved the Arden-Macaulay Structure Plan, aimed at populating the suburbs between North Melbourne (expected to rise in population from 5500 to 19,000) and Kensington (expected to rise from 3000 to 19,000).

Mr Guy, once dubbed in Parliament as the Liberal party’s answer to Bart Simpson, must approve all major proposed developments of more than 25,000 square metres.

 

]]> Skyscraper Approved Behind 420 Spencer Street, Site Now For Sale https://www.realestatesource.com.au/skyscraper-approved-behind-420-spencer-street-site-now-for-sale/ Sun, 11 Sep 2011 04:25:25 +0000 http://realestatesource.com.au/wordpress/skyscraper-approved-behind-420-spencer-street-site-now-for-sale.html ONE of the inner-city’s most distinctive art deco commercial buildings – on a gateway site connecting West Melbourne to the CBD - will be retained and form the entrance of a major apartment skyscraper.

Planning minister Matthew Guy has approved the development of a 32-level, 368 unit apartment tower on land behind the Streamline Moderne building at 420 Spencer Street, near the Flagstaff Gardens, at the north-west tip of town and within an area that is quickly becoming a development hot-spot.

Constructed in 1930 as the headquarters and showroom for Australian Glass Manufacturers, and extended in 1937, 420 Spencer Street (pictured) was until recently occupied by retailer Nightingale Electrics. The building, recognised by the National Trust, used materials such as metal window door frames in its then-modern design.
]]> In 2003 ALP planning minister Mary Delahunty approved the building be demolished and replaced with a 26-level Fender Katsalidis tower which would have risen 83 metres. This development never proceeded. The property has sold a few times since, with the most recent owners incorporating the historic building within a new design penned by the same architect.

Savills directors Clinton Baxter and Nick Dempsey are now marketing the 2250 square metre development site for sale. It’s expected to sell for about $15 million.

Nearby, developer the Brady Group constructed its high-rise Wills Tower behind the 1888 Nahum Barnet building, The Gill.

The Auditorium Building at 171 Collins Street will also be retained as part of a proposed high rise office redevelopment. For many years accommodating the Mayfair Cinema, this building was known between 1984 and 1987 as the Figgins Diorama department store, and then until 1993 as high-end retail complex Shop of Shops.

]]> Former Mushroom Records office sells to developer https://www.realestatesource.com.au/former-mushroom-records-site-melbourne-sells-to-developers/ Thu, 02 Dec 2010 04:16:38 +0000 http://realestatesource.com.au/wordpress/former-mushroom-records-site-melbourne-sells-to-developers.html A historic West Melbourne warehouse-converted-office, once Mushroom Music’s headquarters, sold this week for $3.6 million.

Configured over two floors and with 650 square metres of area, 27 -31 Dudley Street is trading to a developer considering a high density residential project in the medium term.

The Mixed Use site spreads 613 sqm and has Maloney Lane access (story continues below).

It was constructed in 1900 for Moreland Smelting Works.

Savills’ Clinton Baxter and Nick Peden marketed it with vacant possession.

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