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Mark Baljak's picture
#102

Posted in here as they will almost invariably become resi towers

Date July 23, 2013

Goh set to make $33m

Read more: http://www.theage.com.au/business/goh-set-to-make-33m-20130722-2qerk.htm...

Melbourne property investor Jimmy Goh is close to finalising the sale of a portfolio of large CBD development sites for more than $80 million - a substantial jump on the $47 million he paid for them separately between 2008 and 2012.

The three properties, which include a large, multi-storey car park in La Trobe Street, cover almost 7000 square metres and are believed to have been sold to two different buyers.

Selling agents Mark Wizel from CBRE and John Marasco from Colliers International would not confirm details but said the sale was in ''advanced stages of negotiation''. Market sources said interest came from Asian developers or companies representing them.

Many of Melbourne's recent high-rise projects have been built and sold by Asian developers, who filled a gap in the market after Australia's banks tightened finance restrictions on local developers following the global financial crisis.
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Mr Goh bought the three sites - 9-23 Mackenzie Street, 224-250 La Trobe Street and 229-241 Franklin Street, all at the northern end of the city - for a total of $47,425,000. None have development permits.

Mr Goh, and investment partner Craig Lenny, bought the MacKenzie site from Melbourne-based developer Drapac for $11.2 million in 2008. He paid $29.2 million for the La Trobe Street site in late 2011.

rehashing the three associated concept designs by Elenberg Fraser

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Melbman's picture
#103

^^ Interesting.

Not sure I like or dislike them yet.

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Mark Baljak's picture
#104

AFR
Melbourne unit supply nears peak

>> Melbourne’s booming inner city apartment supply pipeline is forecast to peak in 2014, to more than double the amount of units expected in inner Sydney in the same year.

In Melbourne, an estimated 13,630 new apartments will come on line in central Melbourne, the city fringe and the inner city by 2014, according to the latest analysis by Charter Keck Cramer of projects under construction or being marketed.

>> The role of offshore developers has also been a major driver in the Melbourne market. There has been close to $1 billion worth of transactions involving Chinese, Malaysian and Singaporean developers on CBD and city fringe sites over the past two years.

>> For Melbourne, the house view stops short of describing the amount of apartments coming into the market as an over-supply, although Mr Nathan agrees it is “unprecedented”.

“A very high level of apartments are already sold and will not be left overhanging as unsold product after completed. That tempers this whole notion of oversupply,” he said.

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Dean's picture
#105

Looks like the Orbis and Momentum developments in South Melbourne will start shortly with LU Shizen having been appointed the builder.

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Kycon's picture
#106

Southbank Grand out for tender to simon & bob's mother(BM)

Also hickies has got paul little's central in SY

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Mark Baljak's picture
#107

thanks

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melbourne's picture
#108

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Mark Baljak's picture
#109

one for the never built

8/12/2010
58-66 La Trobe Street MELBOURNE
Partial demolition of existing building and construction of a 36 storey building for residential apartments, retail tenancies, offices and cafe/restaurant with a waiver of the car parking and loading bay requirements for the non-residential uses

Refused after VCAT hearing - 17/05/2013

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Fedsquared's picture
#110

http://www.realestatesource.com.au/after-16-years-reading-group-sells-di...

AFTER 16 years, a new owner of the Moonee Ponds Market is expected to be announced this week.

A developer is understood to be in advanced negotiations to buy the 1.34 hectare site, opposite the Moonee Ponds train station – for a speculatd $25 million.

Reading listed the block in May with concept plans, but no permit, for a $250 million mixed use development which would have included three apartment towers, the tallest rising 26 levels, a record height for the area.

It’s expected the new owner will formulate a different, possibly denser future for the site, exploiting demand for apartments near the Puckle Street retail strip – and postcard city views.

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Mark Baljak's picture
#111

good old sunshine - foundry apartments

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Melbman's picture
#112

That Moonee Ponds site needs development, but damn those NIMBY's around there can be vicous.

I just love that in the past reports about the site the NIMBY's have made comments they think it should be parkland. What a great idea... not! I guess that's what consultation gives you.

The Foundry site is coming along well. Should be a good addition for Sunshine.

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Mark Baljak's picture
#113

Kubix 40% sold out in the burbs, corner of Stud Road and Burwood Highway, opposite Westfield Knox.

http://www.theaustralian.com.au/business/property/deal-corp-goes-the-dis...

FK design

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Chris Peska's picture
#114

^looks like these take inspiration from dutch style architecture

Observe. Design. Build. Live.

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Melbman's picture
#115

^^ They look pretty good, but is there really that much demand for apartments at Knox? It's PT options are not ideal (no train station close by), but I guess the shopping centre and Eastlink nearby could be seen as positives. Just doesn't strike me as an ideal place for apartment living, but either does Caroline Springs :)

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Martin Mankowski's picture
#116

^^ Agreed. It seems very odd. Its the same story in Altona Meadows. I grew up around the corner from this proposal:

http://urbanmelbourne.info/development/2013/04/10/apartments-in-the-meadows

Why would you want to live in an apartment without all the benefits apartment living is meant to bring? Surely the lure of a nearby soulless shopping centre can't be that great?

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Mark Baljak's picture
#117

AFR

Mighty Malaysian Gohs big in Melbourne
Nick Lenaghan

>> Malaysian property giant UEM Sunrise has swooped on two prime development parcels in central Melbourne, as the ­appetite for city sites builds from offshore players.

>> The latest transaction includes a 3197 square metre property comprising a major 689-bay car park on La Trobe Street, opposite Melbourne Central.

GPT sold the site two years ago for $28 million. Now the Malaysian developer has taken it over for $43.15 million, at a rate of $13,497 a square metre. A second site in MacKenzie was sold also for $22,500 at $11,083 a square metre. Neither site has planning permits in place.

>> The third property in the portfolio, on Franklin Street, is under advanced negotiation.

>> UEM has been busy in recent weeks talking to local architects, planners and lawyers, sources said.

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Peter Maltezos's picture
#118

^^ Great news, helps boost confidence in Melbourne's future!

Development in the northern part of the city has really taken off in these last three years! smiley

Dare I say it like so many have already, the northern precinct is the new Southbank!

I collect, therefore I am. thecollectormm.com.au

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melbourne's picture
#119

Hoping to see some quality architecture on the carpark site, such a huge area.

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Mark Baljak's picture
#120

had a look at the design yesterday, not too bad

Clubs aim high with city tower build plans

Read more: http://www.theage.com.au/business/property/clubs-aim-high-with-city-towe...

Freemasons Victoria is taking cues from another Melbourne society, the Celtic Club, to better profit from its blue-ribbon land holding.

The Freemasons, with joint venture partner Mirvac, has sought permission from Planning Minister Matthew Guy to replace its parkside Dallas Brooks Hall site in East Melbourne with two towers of 17 and 11 levels.

The estimated $400 million village replaces a relatively more modest $250 million proposal the consortium announced just nine months ago.

That smaller proposal would have included one residential tower of 10 levels and with 250 flats, rising from the north-west corner of the site, fronting Victoria Parade.
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Instead, that portion of land will make way for the 17-level tower. The most exclusive front section on Albert Street, opposite Fitzroy Gardens and with CBD views, will make way for the 11-level building.

The new proposal will include a major office component as well as 275 residential units industry sources are speculating will be oversized and target the uber-wealthy.

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Fedsquared's picture
#121

Dallas Brooks Hall site
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Peter Maltezos's picture
#122

Proposal to replace Dallas Brooks Hall on Albert Street, East Melbourne.

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What used to be on this site, Presbyterian Ladies College.

RESIDENTIAL | news & discussion, concepts & unbuilt projects

The truth is I really like the existing Dallas Brooks Hall, one of the best stripped classical buildings in Australia, second only to the National Library of Australia in Canberra.

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I collect, therefore I am. thecollectormm.com.au

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Mark Baljak's picture
#123

unbuilt 17L Buro Architects design on Lt La Trobe

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Mark Baljak's picture
#124

AT38 minus crane

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Mark Baljak's picture
#125

may need the magic wand to make this look reasonable

IKON Glen waverly

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Melbman's picture
#126

^^ Its not that bad. Put abit of paint on it and it won't be the worst outcome.

Are there many other developments proposed around there of this scale?

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