50 posts in this thread / 0 new
Last post

Pages

Mark Baljak's picture
#27

Boutique fund Elanor acquires Bell City

BOUTIQUE fund manager Elanor Investors Group has swooped on Bell City, a landmark hotel, student accommodation and office complex, in Melbourne’s northern suburbs, picking up the property from the private Asian Pacific Group for $142.9 million.

The sale of Bell City in Preston will see a reorganisation of the Deague family’s holdings, with Asian Pacific Group chief executive Will Deague, saying: “We have made the decision to sell Bell City for family succession planning reasons, allowing my brother Jonathan and I to take further control of the family business.”

Asian Pacific Group, one of Victoria’s longest-running family businesses, has been on the expansion path under brothers Will, and executive director Jonathan Deague.

They have lifted the company’s portfolio in Melbourne and also in regional Victoria, SA and Queensland. The family’s Art Series Hotel Group runs six hotels and plans to grow this to ten hotels by 2017.

The company is targeting the Sydney market to add to a pipeline that includes a mixed use development in Box Hill with 600 apartments and hotel rooms, as well as Adelaide’s tallest residential tower, called Vue.

Asian Pacific Group has also been eyeing off the Richmond Malt site that houses the famous Nylex sign in inner-city Melbourne. The landmark site can house up to 600 apartments but it comes with significant heritage and environmental issues.

probably the end of this SJB design for the site
PRESTON | 3072 | Projects

Back to top
Mark Baljak's picture
#28

casabella
PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

novatisse
PRESTON | 3072 | Projects

388 murray
PRESTON | 3072 | Projects

Back to top
Mark Baljak's picture
#29

Nine High Apartments due for launch

PRESTON | 3072 | Projects

Tower plan for Preston Market redevelopment 'compromised'

A $550 million makeover of the thriving, multicultural Preston Market that includes plans for 1500 homes in towers up to 28 storeys has been "compromised" by the local council, one of Australia's largest private property developers says.

But Darebin Council, which recently rejected a request by the market's owners and developers Salta Properties and Medich Corporation to amend planning conditions to facilitate towers up to 28 levels, said there was nothing to stop the project proceeding.

The standoff has effectively stalled one of the largest proposed building projects in Melbourne's northern suburbs, which was expected to create 315 construction jobs and ongoing employment for another 770 when complete.

Salta Properties managing director Sam Tarascio said the development partners were "frustrated" by the council's refusal to advertise proposed amendments to planning conditions, which had limited community feedback on the plans.

"They are effectively blocking us from doing that and we find that to be a very unusual way of going about planning … this is not a proposal that has been whacked together quickly," he said.

The market's overhaul, while not yet finalised, could include a multi-deck carpark behind the row of shops facing High Street with an apartment building at each end.

Four other towers up to 28 levels may be built on the western edge of the site next to the Preston railway station.

At ground-level the market would be covered by a roof deck with another seven apartment buildings above, drawings show.

The amendment requested by the developers would remove VCAT appeal rights against towers up to 28-storeys, which is far more than the council's preferred 10-storey height limit, Darebin assets and business services director Steve Hamilton said.

"They can still put any planning application through. There's really nothing that council is holding up at all," he said.

Mr Tarascio said the popular food and vegetable market would operate as normal during the complex, multi-staged development which may take between five and 10 years to complete.

"The strategy we want to adopt is to effectively leave the market in its current location but gradually move through it and either rebuild or refurbish the market as necessary in stages," Mr Tarascio said.

http://www.theage.com.au/business/tower-plan-for-preston-market-redevelo...

Back to top
Mark Baljak's picture
#30

freshie of the Bell City approved development - 272 apartments + 105 hotel suites

PRESTON | 3072 | Projects

Back to top
Fedsquared's picture
#31

Pentridge
PRESTON | 3072 | Projects

Back to top
Mark Baljak's picture
#32

Cera Stribley design for High Street Prteston

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

Back to top
Bilby's picture
#33

That Pentridge design is downright disrepectful to the site and its historical context.

Back to top
urban eyes's picture
#34

Doesn't help that it looks like a prison

Back to top
Mark Baljak's picture
#35

Tre Monte
PRESTON | 3072 | Projects

Seed
PRESTON | 3072 | Projects

352 Bell
PRESTON | 3072 | Projects

9 High
PRESTON | 3072 | Projects

Bellview
PRESTON | 3072 | Projects

Back to top
Mark Baljak's picture
#36

18L at 63-71 Plenty Road

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

Back to top
Mark Baljak's picture
#37

Working concept for Aus Post site on Oakover Street

PRESTON | 3072 | Projects

Back to top
JackPeacock's picture
#38

Looks like a big development! Any more details about this project, Mark?

Back to top
Mark Baljak's picture
#39

Baldasso Cortese is the architect. Don't know much more than that, although Aus Post may work up a concept or approved design before selling the site.

Back to top
Mark Baljak's picture
#40

36-46 High St - ROTHELOWMAN

Better street level than anything else around there

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

Back to top
Mark Baljak's picture
#41

Preston Market revamp to start in

The owners of the Preston Market will move ahead with a $4 million revamp of its popular food halls despite opposition from local residents and traders.

Salta Properties and Medich Corporation, who jointly own the 45-year-old fresh food market, will begin work on upgrading the fruit, vegetable, meat, poultry and fish halls in October.

The upgrade is the first stage of a planned $550 million makeover of the thriving, multicultural market that includes plans for 1500 homes in towers up to 28 storeys high.

The project's controversial second and third stages, which include multi-storey car parks and high-rise buildings, have stalled in the planning process after they were rejected by the local council.

Salta's director Sam Tarascio said the market had remained largely untouched since the 1970s and was due for an upgrade.

"A key focus of the works is the introduction of a range of environmental and sustainability initiatives," he said.

They include solar panels on the roof, onsite waste treatment, recycling improvements, smart building technologies, a children's play area and expansion of the Preston Artist Market, dubbed PAM Lane.

Manny Spiteri, a leasing advocate representing the market's 150 traders, described the work as a " facelift to placate the council".

Mr Spiteri said the market's owners had failed to properly consult with market traders.

"You're the first one to tell us. Wouldn't you think they would consult the traders?" he said. "We don't know when it's going to happen, how it's going to happen."

The market's owners face stiff opposition from local residents, with a push by Darebin Progress Association for a public meeting to voice concerns.

"We don't want it sanitised. We want the amenity of the market, it's multicultural aspects preserved," organisation secretary Marion Harper said. "It's a cultural hub. It's a way of life that's disappearing."

Passionate shoppers, protective of Melbourne's old-style traditional undercover markets, have levelled similar criticism at the City of Melbourne's multi-million dollar makeover of the Queen Victoria Market.

Mr Tarascio said traders knew the changes were coming and would be briefed next week.

The Preston Market will remain open while it undergoes the revamp which has been designed by NH Architecture and Breathe Architecture, he said.

http://www.theage.com.au/business/property/preston-market-revamp-to-star...

Back to top
Mark Baljak's picture
#42

Billionaire halves tower height in controversial Preston Market redevelopment

Sam Tarascio, who is worth just over $1 billion according the 2016 BRW 200 Rich List, has surprised planners and real estate agents by substantially slicing the maximum height of apartment buildings within a controversial Preston Market redevelopment in Melbourne's north.

After twice trying to have the land rezoned to allow for towers rising 28 storeys, the Salta Properties founder, who until recently only built commercial assets, has applied to construct three residential buildings, rising nine, ten and 14 levels, on car park land off Murray Road, abutting the Preston train station.

The popular market, which replaced the Broadhurst Tannery in 1970, is co-owned with Sydney based Medich Corporation.

The proposed buildings will include a total of 300 apartments atop eight retail tenancies ranging between 45 square metres and 495 square metres, and an underground car park.

A resident-only communal garden of about 1000 square metres will be developed between the two larger buildings, as will rooftop gardens, a basketball court and shared barbecue and dining spaces.

http://www.theage.com.au/business/property/billionaire-halves-tower-heig...

Back to top
Mark Baljak's picture
#43

This one on Cramer Street has been sold to a developer

PRESTON | 3072 | Projects

Another in neighbouring Heidelberg Heights is up for grabs

PRESTON | 3072 | Projects

Back to top
theboynoodle's picture
#44

That Cramer St site looks like a great spot to go mid-rise, and the scale of the artists impression is sensible (and also quite nice). Preston seems like a great area to try and bulk up with mid-scale developments. Hopefully planning will encourage that.. rather than the 'stick a load of massive towers on a few blocks' approach of certain elsewheres.

What's the train capacity like on that line? The trams from that way are reasonably full at peak.

Back to top
Mark Baljak's picture
#45

^^

Salta finds a strategic way to secure Preston Market catchment

Salta Group has made a strategic property play buying a 1761 square metre open-air car park adjacent to its Preston Market, one of the northern suburb's most prominent sites, which it has owned for decades.

It is understood Salta will proceed with building a permitted nine-level apartment building containing 95 flats, which will tower near the southern edge of the Preston train station.

Salta has been seeking to add a residential catchment around the Preston Market for the past couple of years but plans to develop car space at the northern edge of the site with apartment towers have been knocked back three times.

An earlier Preston Market redevelopment application sought – twice – to build towers rising 28 storeys.

Late last year the application was amended to include three shorter buildings – of nine, 10 and 14 levels. This proposal was to have included an underground car park, about 300 apartments atop eight ground level shops, and an occupant-only rooftop communal garden, beside a basketball court, shared barbecue and dining spaces.

One of the main reasons for council's rejection was the car parking amenity, which could have been compromised for shoppers and public transport users (the suburb's train station is at the western-most edge of the Preston Market).

Salta is paying $8 million this week for 30 Cramer Street, abutting the south-west tip of the 46-year old market, which it now co-owns with Sydney's Medich Corporation.

Back to top
Mark Baljak's picture
#46

http://www.theage.com.au/business/property/crane-numbers-soar-to-new-hei...

Nice to see we've been quoted, but the 165 cranes figure is now 170. Yesterday's addition - Modern Apartments Preston

PRESTON | 3072 | Projects

Back to top
Mark Baljak's picture
#47

70 High by DKO

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

Back to top
Michael Berquez's picture
#48

I like this one

Back to top
Mark Baljak's picture
#49

Yeah a cut above what Preston has offered over the last decade

Back to top
Mark Baljak's picture
#50

36-46 High St by Rothelowman approved, site for sale

PRESTON | 3072 | Projects

PRESTON | 3072 | Projects

Back to top

Pages