Yarra Glen – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 26 Feb 2012 04:00:06 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Yarra Glen – realestatesource https://www.realestatesource.com.au 32 32 Yarra Glen Farm on Green Wedge Zoned Land Set to Become Chocolaterie Tourist Attraction https://www.realestatesource.com.au/yarra-glen-farm-on-green-wedge-zoned-land-set-to-become-chocolaterie-tourist-attraction/ Sun, 26 Feb 2012 04:00:06 +0000 http://realestatesource.com.au/wordpress/yarra-glen-farm-on-green-wedge-zoned-land-set-to-become-chocolaterie-tourist-attraction.html A YARRA Glen farm on  land zoned Green Wedge will be converted into “the number one rural tourism attraction in Australia” after the Yarra Ranges Shire Council unanimously approved a $31 million chocolate centre at a prominent corner site.

The major development will be developed on a 15.5 hectare farm on the north-east corner of Old Healesville Road and Melba Highway, about 2.7 kilometres east of the Yarra Glen township and near the Alowyn Gardens.

]]> Amongst the reasons for choosing the site, the applicants said in their application, was its position abutting Melba Highway, which carries an average 58,000 vehicles per week. The site also provides postcard views, a rural aspect, and is big enough to accommodate the chocolaterie, horticultural orchards, parking and recreation spaces.

Marketed to council as an integrated major tourism experience, about half the farm will be reconditioned as improved pasture for cattle grazing, while another four hectares is proposed as wetlands.

A chocolaterie facility with manufacturing and sales facilities will spread over two hectares, while another 1.6 hectares will be garlanded as an orchard and horticultural garden with hundreds of trees, amongst them growing quince, apricots and almonds.

The Yarra Valley precinct, an hours drive from Melbourne, is popular with daily and weekend holidaymakers, and is renowned for its winery-based accommodation, often incorporating historic buildings.

Construction of the Yarra Glen chocolate factory is scheduled to start in April and be open for business by December.

On the other side of town in Ballarat, a rural landmark is set to be developed on what is now known as medieval theme park Kryal Castle. After failing to sell for many years the site sold in January to a consortium of local and Singapore based interests.

 

]]> Yarra Glen Shopping Centre, Melbourne, Sells For $8.4 Million https://www.realestatesource.com.au/yarra-glen-shopping-centre-melbourne-sells-for-84-million/ Sun, 12 Feb 2012 04:00:58 +0000 http://realestatesource.com.au/wordpress/yarra-glen-shopping-centre-melbourne-sells-for-84-million.html A near-new, neighbourhood shopping centre on a massive 9.3 hectare site, most of which can’t be redeveloped, sold for $8.4 million last month to a local private investor.

The Yarra Glen Shopping Centre (aerial, right) was one of several Mortgagee Sale campaigns offered last year. A supermarket – leased to Ritchies Supa IGA until 2028 – fills 70 per cent of the 3747 square metre complex which also includes 11 specialty stores.
]]> During the campaign, selling agency Savills estimated the shopping centre could return a fully let, annual net income of $1.02 million. A small portion at the site can be redeveloped but the majority is wetlands, expected to be preserved by the owner.

The site has frontage to Healesville Yarra Glen Road – a major thoroughfare to Yarra Valley wineries – and as such may offer revenue potential in the form of billboard-advertising. But the shopping centre is accessed via Bell Street.

Savills director Nick Peden marketed the shopping centre with Pat De Maria. Administrator Ferrier Hodgson managed the sale.

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