Yarra City Council – realestatesource https://www.realestatesource.com.au Commercial and residential property news Wed, 21 Dec 2011 01:53:03 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Yarra City Council – realestatesource https://www.realestatesource.com.au 32 32 Council Approves $400 Million Redevelopment of Former Channel Nine Headquarters, Bendigo Street, Richmond https://www.realestatesource.com.au/council-approves-400-million-redevelopment-of-former-channel-nine-headquarters-bendigo-street-richmond/ Wed, 21 Dec 2011 01:53:03 +0000 http://realestatesource.com.au/wordpress/council-approves-400-million-redevelopment-of-former-channel-nine-headquarters-bendigo-street-richmond.html
THE Yarra City Council has approved the $400 million redevelopment of Channel Nine's long-time Bendigo Street studios, in Melbourne's inner east.

 

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A copy of a council statement is below:

Redevelopment of Channel 9 site approved with conditions

Channel 9, RichmondYarra Council has approved a $400 million redevelopment of the former Channel 9 site in Richmond subject to the maximum height being reduced to six storeys and other important conditions.

At its meeting last night, Council adopted an Amendment to the Yarra Planning Scheme which will facilitate the redevelopment of the Bendigo Street site for housing.

While approving the overall redevelopment, Council specified that the Amendment provide for a maximum height of six storeys on the three hectare site, two storeys lower than developer Lend Lease’s proposal.

Council also required that Moore Street be retained as a dead-end street, and that 5% of the total number of dwellings be provided as affordable housing run by a registered housing association.

Yarra Mayor Geoff Barbour said Council would now request that the Minister for Planning approve the Amendment. Once the Amendment is approved, a detailed permit application will then be submitted to Council. For the permit application to be approved, it will need to be generally in accordance with the development plan approved by Council.

Cr Barbour said Council had worked hard to get an acceptable outcome for the local community, doing what it could to protect existing residential amenity and improve surrounding infrastructure.

“We have made it clear that the maximum building height needs to be reduced to six storeys,” Cr Barbour said.

“Six storeys will be more in keeping with the low-rise character of the surrounding streets, and will hopefully result in a less dense development overall.”

Cr Barbour said increased traffic was a concern but Council would continue to advocate for more public transport services. Towards that end, Lend Lease had committed to provide $50,000 towards future public transport improvements in the Bridge Road/Swan Street area.

He said while residents had raised concerns about the redevelopment increasing demand for on-street parking, a long-standing Council policy meant that the site’s future residents would not be eligible for resident or visitor parking permits.

Cr Barbour said the positive features of the redevelopment included Lend Lease’s commitment to provide a 400 m2 community centre that would be run by Council and to meet a five star energy rating set by the Green Building Council of Australia.

“This is a large redevelopment within an existing close-knit community of narrow streets, so you can understand residents’ concerns that it will change their neighbourhood,” Cr Barbour said.

“However, there is general community acceptance that the site should be redeveloped, so we have done our best to minimise the negative aspects and expand the positive,” he said.

]]> Australian Education Union Spends $16 Million on Neighbouring Abbotsford Office https://www.realestatesource.com.au/australian-education-union-spends-16-million-on-neighbouring-abbotsford-office/ Sun, 05 Jun 2011 04:07:47 +0000 http://realestatesource.com.au/wordpress/australian-education-union-spends-16-million-on-neighbouring-abbotsford-office.html THE Victorian Branch of the Australian Education Union, presided by Mary Bluett, may need to rely on fee revenue from government educators to pay off a spectacularly located office building it has purchased on the banks of the Yarra River in Abbotsford – next door to its current HQ.

The AEU’s off-market acquisition comes three years after the Association of Independent Schools of Victoria paid about $6 million for a massive art-deco office complex in Rosslyn Street, West Melbourne, and some two years since the National Union of Workers paid almost $7 million for a Bourke Street, Docklands head office.

The AEU is headquartered at a large building at 112 Trenerry Crescent, and rents out surplus office space. That building could be extended, and the site has redevelopment potential, sources say.

]]> Its purchase of the neighbouring 126 Trenerry Crescent site for almost $16 million in March, gives the AEU a riverside supersite speculated to be worth $30 million in the current market.

The unique parcel abuts parkland overlooking Dights Falls and is at a sharp bend in the road where Trenerry Crescent meets a wall that is the Punt Road offramp of the Eastern Freeway.

An AEU spokesman said it eventually plans to relocate staff to a new office at #126 once leases and associated options in place in that building, which was sold by Kane Constructions, expire.

Earlier this week, the new owners of a site at 86 Trenerry Crescent, which abuts the AEU’s compound to the south, unveiled plans for a 10-level, 109-unit residential tower.

The proposed complex is one of several high density buildings earmarked to replace low-rise commercial buildings on Abbotsford’s Yarra River banks.

Last year – and despite an objection from the Stonnington City Council – the Yarra City Council and the Victorian Civil and Administrative Tribunal approved a $250 million redevelopment of the former Honeywell office building site, opposite Victoria Gardens.

That project, Eden, will include 586 flats in several towers, the tallest rising 11 levels.

Plans have also been mooted for a 17-level tower at another site in Johnston Street.

All proposed buildings are substantially lower than commission flat towers in neighbouring Collingwood, Fitzroy and Richmond, which rise more than 20 levels.

 

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