BROOKFIELD MULTIPLEX QUAY TO BUILDING’S SUCCESS

Brookfield Multiplex has completed construction of the $180 million brand new residential development The Quays on the corner of Docklands Drive and Harbour Esplanade, in Melbourne. The Quays is owned by MAB Corporation and comprises 600 apartments over two residential towers. The South Tower is 32 levels and features 115 one bedroom apartments, 142 two […]

Little’s a big deal in rentals

PAUL Little’s private property company Little Group has made a $60.7 million offer for listed real estate services group Real Estate Corp. The 37c a share cash offer has been recommended by the directors of the once-financially stricken group. The directors together hold 58 per cent, giving Little Group control of the company. Mr Little, […]

Far East, Grocon file plans for $1.8bn in Melbourne apartments

CHINA’S Far East Consortium and Daniel Grollo’s development company Grocon have filed plans for separate apartment projects with an end value of about $1.8 billion. The plans come as new research from Chicago-based Council on Tall Buildings and Urban Habitat shows Melbourne has the fifth-highest number of 100m-plus residential buildings under construction in the world, […]

Grand designs for southern skyline

SINGAPORE’S Aspial Corporation has unveiled plans to build Australia’s second tallest tower behind the famed Surfers Paradise landmark Q1 Tower. The almost unknown offshore company has snapped up the site in Melbourne’s Southbank district, known as the Australia 108 project, that can accommodate a 312m tower, which will be the city’s tallest. The tower could […]

Singapore’s Aspial unveils plans for 388m Southbank skyscraper

SINGAPORE’S Aspial Corporation has unveiled plans to build Melbourne’s tallest skyscraper after striking a deal to buy a development site in the city’s Southbank district for $42.3 million. The tower will overlook the Yarra River and house upmarket apartments and boutique office space, with the top floor to be made accessible to the public. Melbourne’s […]

Starwood Hotels in deal with Singapore real estate group

HOTEL operator Starwood Hotels & Resorts has struck a deal with Singapore-listed real estate group Hiap Hoe to run two hotels at luxury properties it is developing in Melbourne that are worth $700 million. The pair have struck a deal under which the group’s planned hotel in the Docklands will be run as a Four […]

Melbourne’s vacancy rates are soaring as a surge in inner-city development adds thousands of apartments to the rental market. The city’s 3 per cent vacancy rate is now the highest among Australia’s capitals, SQM Research’s November data suggests. Hobart and Adelaide have the tightest vacancy rates in Australia at 1.4 per cent, SQM figures show. […]

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Queen Victoria Market set for 50-storey tower on doorstep

A planned 50-storey apartment and hotel development on the front step of Queen Victoria Market could be the first of a swag of new high-rise towers to overlook the market. Developer MIT Australia has lodged a planning application for two towers of 50 and 30 storeys with a 210-room hotel and 609 apartments at the […]

Charter Hall’s wholesale fund commits to a $150 million expansion and redevelopment of 570 Bourke Street Melbourne

The $150 million expansion and redevelopment of the Charter Hall Core Plus Office Fund’s (CPOF) 570 Bourke Street office building is set to commence early next year, with the appointment of Brookfield Multiplex as construction contractor, on a fixed price lump sum design and construct contract. The enlarged 51,000 square metre A-grade office building, located […]

Feast of new shops, eateries lift for CBD

The lacklustre retail offering in the CBD’s western end is set to get a boost after a series of major new stores and eateries begin to open in Spencer Outlet Centre and the Upper West Side apartment complex. Fashion and homeware retailers Cotton On Superstore, Trade Secret and Harris Scarfe will become the anchor tenants […]

Grollo develops in a new direction

The Grollo Group, whose projects are etched in concrete on Melbourne’s skyline, is repositioning its construction arm Equiset as a stand-alone builder-developer with a large forward book of residential projects. Grollo CEO Lorenz Grollo said Equiset was ”transitioning” from being predominantly focused on building to a fully integrated development company. Equiset has a forward list […]

90% already sold as Fitzroy development MIYA launches

Property developer Angelo Property Group is securing final sales for a new residential development in Melbourne’s vibrant Fitzroy. Just seven properties remain for purchase off the plan following a hugely successful 8-week word-of-mouth sales campaign. Recent statistics show that Fitzroy is in high demand, with approximately 91 people looking per advertised property. “Fitzroy is the only city […]

Developers step up the fight for high-rise sites

LOCAL and international developers are scrapping for sites in Melbourne with a private offshore group snapping up a plot at Freshwater Place in Southbank as Grocon closes in on a Spring Street tower that could make way for an landmark apartment tower. While purchases of residential sites in Sydney have been dominated by Chinese groups […]

Melbourne industrial site ripe for development

Melbourne, 23 October 2013- Peet Ltd has put their 24.3 hectare industrial development site on the market. The regular shaped plot on Palmers Road in Truganina benefits from minimal physical constraints, with 23.08 hectares of net developable area.  The site already has approved planning permission for 45 industrial lots, with a range of lots sizes […]

Sales heat up at Aerial

FKP’s luxury development Aerial at Camberwell is gearing up for a strong spring selling season on the back of more than $3 million in sales being secured at the development since its re-launch to the market in August. Four of the final apartments have now sold for between $650,000 and $1,100,000, leaving just 16 apartments […]

BROOKFIELD MULTIPLEX APPOINTED TO SOUTHBANK GRAND APARTMENTS

Brookfield Multiplex, a leading global contractor, has been appointed by property developer Central Equity to construct the new $120 million plus residential Southbank Grand Apartments at 151 City Road in Southbank, Victoria. The project is Central Equity’s’ largest to date. It marks the 12th project undertaken by Brookfield Multiplex for client Central Equity. Brookfield Multiplex […]

Mall growth plans reined in

TWO major Victorian retail developments — the Alter family’s Werribee Plaza and Chadstone Shopping Centre, owned by Melbourne billionaire John Gandel and CFS Retail — have been scaled back as rents for new tenants take a nose dive. The Alters are getting ready to push the button on plans to expand Pacific Werribee Plaza, according […]

BROOKFIELD MULTIPLEX COMPLETE FIRST PREMIUM OFFICE BUILDING IN MELB IN 20 YEARS

Brookfield Multiplex has completed construction of the $143 million 171 Collins Street in the heart of Melbourne’s CBD, the first premium grade commercial development to be built in the city in 20 years. Owned jointly by Charter Hall and CBUS Property and spanning 31,000 square metres of net lettable area, 171 Collins Street comprises two […]

Melbourne property to decline

THE apartment construction boom in Melbourne is set for a dramatic correction over the next few years, with the value of some apartments in the central business district, Docklands and Southbank areas expected to decline more than 10 per cent by 2017. BIS Shrapnel managing director Robert Mellor said the correction would mirror the crunch […]

Time’s up for a confounding site

It’s the prime CBD retail centre that shoppers forgot. Launched with great fanfare in 2007, The Foundry has become an empty shell sitting on the edge of the busiest shopping precinct in the city, Bourke Street Mall. It’s main entrance is closed, sealed off after the last tenants fled the three-storey arcade that once promised […]

Towering ambitions for Flemington site

CHINA’S largest developer, Greenland Group, could be unveiled today as the buyer of a key site near Melbourne’s Flemington Racecourse where it plans to build one of its trademark towers. The Shanghai-based, state-owned property developer has laid out aggressive expansion plans for Australia and this week The Australian reported it had submitted plans for a […]

Hiap Hoe signs with Probuild

SINGAPORE-listed Hiap Hoe, which has just bought three large sites in Melbourne with a development end value of $1 billion, has struck a memorandum of understanding with Probuild Construction, to pursue a joint venture as it expands in Australia. Hiap Hoe, which controls a portfolio of mixed-use properties in Singapore, signed the deal with Probuild […]

Work starts on Polaris stage two

Private developer Deal Corporation is forging ahead with the transformation of a former mental asylum into a housing haven, launching the second stage of its 12-step project. Work is set to begin on 68 townhouses and three buildings with 72 apartments at the former Larundel Mental Asylum in Plenty Road, Bundoora, Dealcorp managing director David […]

Array’s $8 million crowning jewel penthouses grace Yarra’s Edge

The crowning jewel at the top of the Array tower in Yarra’s Edge is two, multi-level four-bedroom penthouses with a price tag of $8 million each. The east and west penthouses span over levels 38 and 39 and feature 424 square metres of indoor living space and over 62 square metres of alfresco space. Penthouses […]

Smorgy’s restaurant fire site to become eight-storey apartment tower

The site of the Smorgy’s restaurant that went up in flames this month will be redeveloped into a major multi-tower residential complex. The Victorian Civil and Administrative Tribunal found in favour of developer Park Rise Australia, which had appealed against Darebin council’s rejection of its application last year. The decision was made just days before […]

Singapore buyer moves in for a second bite

ACQUISITIVE Singaporean investor Hiap Hoe has purchased a second Melbourne property in quick succession, paying $105 million for a Melbourne retail centre, after paying $44m for a development site in the CBD this week. Hiap Hoe purchased the property at 206 Bourke Street from a joint venture between private developer and racing identity Les Smith […]

The Bend’s land values soar

Land values have soared 60 per cent in Fishermans Bend since the suburb’s rezoning, a shift that has prompted a rush to short-term leases, agents Knight Frank say. The state government last July rezoned 240 hectares of commercial and industrial land just south of Melbourne’s CBD into four mini-suburbs to accommodate 50,000 residents. Since then, […]

CFS the winner as Muji moves in to Emporium

JAPANESE homewares and consumer products retailer Muji is preparing to open its first Australian store at Melbourne’s CFS Retail Emporium development. The retailer will take a large-format store on level two of the Lonsdale Street building in a major coup for the development. Muji will join another top Japanese retailer, Uniqlo, and British high street […]

New sale evidence of Asia interest

SINGAPORE-listed Hiap Hoe has snapped up a site in Melbourne’s Lonsdale Street that has a permit for a $480 million mixed-use development. The development company paid $43.8m for 380 Lonsdale Street in its second purchase in Melbourne in recent months. The 3165sq m site spans an entire city block and holds a 445-space commercial carpark, […]

Greenland leads VRC field for Flemington site

CHINA’S largest developer Greenland Group has held talks to buy a site in Melbourne near Flemington Racecourse from the Victoria Racing Club for one of its city-defining towers. The Shanghai-based, state-owned property developer has laid out aggressive expansion plans in Australia and last month won conditional approval to build Sydney’s tallest apartment tower on the […]

Hotel plans for airport precinct

Essendon Airport looks set to expand with a 150-bed hotel, substantial new office and retail space and up to 10 new car dealerships over the next five years, the airport’s new master plan envisages. A hospital, what to do with unused land lots in nearby residential areas and a study into shortening the north-south runway […]

First signs of fresh life for Chapel Street

A new wave of fast-food and fashion retailers is moving into Chapel Street ahead of a much-needed makeover for the retail strip. Stonnington Council has released a master plan that includes a ferry service along the river from the city to the strip and a $1.8 million plaza in Windsor that will form two ”gateways” […]

Green is the new black in Collingwood

Buyers seeking an urban oasis in apartment living will be spoiled with the launch of a new residential development in Melbourne’s vibrant Collingwood. HAUS will have 80 apartments over eight levels and will be located at 416 Smith Street, the heart of Collingwood’s eclectic community and just footsteps away from its array of dining and […]

Apartment developer spends $60m on land

City apartment developer Francis Kwong is branching into the wholesale land market, spending $60 million to buy the sprawling Eynesbury residential estate in Melbourne’s west. Villa World and Woodhouse Pastoral sold the 1200-hectare subdivision and golf course to Hyde Property Group, which is controlled by Francis Kwong and Mathew Thomas Phillip. Mr Kwong is the […]

Car park may fetch $12m

A private developer seeking to cash in on strong demand for Melbourne development sites has put a city car park on the market. The small two-level car park at 399 Little Lonsdale Street adjoining the University City Apartments building will be sold with permits in place for a 39-level Peddle Thorpe Architects-designed residential tower. The […]

Lend Lease’s court win a stamp of approval

LEND Lease has won its appeal against a $20 million stamp duty assessment over the land underpinning a number of its major developments in Melbourne’s Docklands. The ruling could set a precedent as to how taxes paid by developers on land parcels are assessed by authorities in Victoria. The successful appeal translates into a $2.4m […]

Ron Walker’s bid to lead city square’s evolution

EVOLVE Development is eyeing its first major mixed-use project, with the company founded by former Fairfax chairman Ron Walker and Ashley Williams already bedding down consortium partners to bid for the $680 million contract to expand Melbourne’s Federation Square. Federation Square East is one of the biggest government-backed projects in Melbourne’s recent history. The project […]

Tower boom on horizon as developers eye Footscray

A pocket of Footscray will become a satellite city of 5000 people living in more than a dozen high-rise towers after recent amendments to Melbourne’s planning scheme. But the new scheme may allow towers up to 25 storeys high on the banks of the Maribyrnong River, prompting anger from nearby residents. Planning Minister Matthew Guy […]

Low-rise Glen Eira to ‘fuel sprawl’

Councils that take advantage of lower height limits under Victoria’s new planning zones will create more urban sprawl, the development industry fears. On Monday Glen Eira became the first council to announce new zones – protecting almost 80 per cent of its streets from unit and apartment development. Planning spokesman for the Building Designers Association […]

Inge drops village plan as Ingenia jumps in

THE wealthy Inge family has dumped plans to develop a $100 million retirement village and commercial complex in inner Melbourne and has put the site on the market with a price tag of $13m. Patriarch Zig Inge, who is thought to be worth $540m, sold about 20 villages to FKP-managed Retirement Villages Group in 2007 […]

Lend Lease in $1.5bn Docklands project

CONSTRUCTION and property giant Lend Lease will embark on a $1.5 billion mixed-use development in Melbourne’s Docklands after signing an agreement with the Victorian government. In a widely expected deal, Lend Lease will develop an office, retail and residential complex over a 2.5ha site in the Batman’s Hill precinct on the cusp of Melbourne’s CBD. […]

Docklands hotel complex gets green light

An artist’s impression of the 37-level tower approved for the Digital Harbour precinct. Planning Minister Matthew Guy has granted approval to build a $130 million hotel and residential complex on one of the few remaining undeveloped spots in the northern end of Docklands. The new project will be part of the Digital Harbour precinct and […]

Urban Inc stitches modern texture into Collingwood

Stitching additional layers of texture into Collingwood’s already vibrant fabric, Urban Inc’s newest venture, Oxley, will form a new micro neighbourhood within one of Melbourne’s oldest and fastest growing inner-city pockets. Oxley comprises 233 apartments and penthouses across four individually designed low-rise buildings: Tailor, Mason, Gibson and Foy which will fit respectfully into this heritage […]

BROOKFIELD MULTIPLEX APPOINTED TO STAGE THREE OF UPPER WEST SIDE APARTMENTS

Brookfield Multiplex, a leading global contractor, has been appointed by Far East Consortium to deliver Stage Three of Upper West Side apartments. Stage Three is the third of five stages in the mixed use residential and retail project on the corner of Little Bourke and Spencer Street in Melbourne. The appointment follows Brookfield Multiplex’s successful […]

East-worst: heavy toll for Parkville apartments

Investors with Evo apartments in Parkville thought they were purchasing views of “sublime parklands and leafy streetscapes”. Instead, the 175 off-the-plan luxury apartments will be completely surrounded by freeway, according to Victorian government east-west toll road plans. On either side of the seven-storey building, two tollway flyovers will rise high to meet CityLink at its […]

PDG Corporation pushes on with former Ansett building

  PDG Corporation has begun building a five-level podium next to the former Ansett building in Swanston Street as it pushes ahead with plans for a 400-room hotel on its Southbank site and a 200-apartment tower in Elizabeth Street. The Melbourne-based developer, founded by Vince Giuliano, has its headquarters in the brown, 1980s octagonal building […]

Plum shoots in the Jardin

Developer Australand is continuing to profit from the plum land deal it brokered with the Bracks/Brumby government in 2002. This weekend it will launch another apartment tower, Jardin Parkville, to replace a portion of prime land for years owned by the state government and occupied as a psychiatric hospital. A spokesman for the developer said […]

Lang Walker building an appetite for residential

BILLIONAIRE property developer Lang Walker is focusing on larger projects such as his $1.7 billion Collins Square office and retail complex in Melbourne after offloading logistics sheds and sites in his firm’s industrial arm. “I am very encouraged with residential – masterplanned communities – that area has been in the doldrums for quite some time […]

Spencer St apartments

An offshore builder has outmuscled locals for an inner-city showroom that was expected to be sold to an investor who would have retained its use as retail. The two-level former Valiant Hire building at 617-643 Spencer Street sits on a 1620-square-metre block between Abbotsford and Hawke streets in West Melbourne. Despite being attached to other […]

Equiset Grollo to make its mark on Collins St

The developer responsible for what has been dubbed Melbourne’s thinnest skyscraper has applied to Planning Minister Matthew Guy to replace a historic shop on a 483-square-metre block in Collins Street with a landmark 54-level tower. Equiset Grollo, directed by Lorenz Grollo, is planning to redevelop the Makers Mark building at 464 Collins Street with a […]

Protection For Melbourne’s World-Class Arts Precinct

The future of Melbourne’s thriving arts and entertainment precinct is more secure, thanks to mandatory height controls approved by Planning Minister Matthew Guy. Mr Guy today approved City of Melbourne planning scheme amendment C171 that allows areas of Southbank to be included within the Capital City Zone and reinforces the protection of its future streetscape. […]

Boutique group raises another bar

The derelict Terminus Hotel in Abbotsford will undergo a $2 million restoration after being leased to a small but growing local hospitality business. Brothers Andy and Matt Mullins, and business partners in the Sand Hill Road group, secured a 40-year lease on the venue, which holds 516 people and has a 3am licence. The Terminus […]

IT’S NEVER TOO EARLY TO THINK ABOUT THE MESSAGE: MARKETING HOUSE AND LAND DEVELOPMENTS IN VICTORIA’S SATURATED MARKET

The marketing of master plan communities involves selling the vision of a life that does not actually exist at time of purchase. Largely interchangeable product offerings make distinctive, effective marketing a hard thing to achieve. It makes achieving sustained buoyant sales a challenge. Strategies will have to change dramatically from here on in when it […]

Mirvac secures $35.6 million in Ascot Vale Enclave sales

  The first release of Enclave, Mirvac’s new Ascot Vale residential community is 95% sold following its launch weekend.   There were $35.6 million in sales for the project located seven kilometres from Melbourne’s CBD. The home and land packages were priced from around $549,000.   Some 61 lots were purchased including a mix of land allotments and Mirvac designed homes. […]

Lips tight: Welsh Church sells CBD land for $20m

A major development site behind Melbourne’s Welsh Church has reportedly sold for close to $20million. The Welsh Church, on La Trobe Street between Elizabeth and Queen, owned a sizeable chunk of valuable CBD real estate that stretches beside and behind the 1871 Gothic Revival building to A’Beckett Street. The church had subdivided the block and […]

Rising market spurs Salta on warehousing

Salta Properties will begin major earthworks for warehouse sites at its ”inland port” in Dandenong South as Melbourne’s industrial market sales, supply and lease conditions improve in the first three months of this year. Port container (TEU) volumes have grown by 9 per cent in the past year on the back of rising import demand […]

Adriano Zumbo joins George Calombaris in South Yarra’s Fridcorp Lilli development

Celebrity chef Adriano Zumbo is joining the likes of Masterchef’s George Calombaris and leasing a ground level retail space in Fridcorp’s South Yarra development Lilli. It will be the first Melbourne store for the patissier, who signed a ten-year lease with two further seven years option. The Lilli apartment development (pictured below) is now fully […]

Luxury Parkside Residences in Surrey Hills, Melbourne

Hidden within the natural beauty of Surrey Hills are Willow apartments, 33 boutique, luxury residences designed by Interlandi Mantesso Architects. Taking advantage of its enviable parkside location, Willow uses natural materials and tones to blur the divide between building and park, creating private, leafy residences. With only two expansive apartments per level and the convenience […]

Singapore group takes interest in Grocon site

Singapore group Chip Eng Seng has its eye on a core part of Grocon’s $1.2 billion development at Melbourne’s Carlton & United Brewery site. Chip Eng Seng is keen to develop landmark apartment towers in Melbourne and the brewery site could be just what they are looking for. The site is located on the corner […]

Grollo group in talks to secure historic site

Equiset, established by the Grollo Group, is in talks to buy a $15 million office building on the corner of Melbourne’s Bourke and Little Queen streets for a potential boutique hotel development. Malaysian-listed DKLS Industries Berhad is selling the property, which includes the historic Equity Chambers Building, and said it had heads of agreement to […]