A residential development infill site with preliminary approvals in place at Darra in Brisbane’s south-west is being offered for sale by Ray White Special Projects (Qld). The approximately 7ha site at 242 Englefield Road, Darra, is being marketed via Expressions of Interest by Ray White Special Projects Qld Directors Mark Creevey and Tony Williams in conjunction with Adam Rubie and Brendan Hogan of Colliers International. “The Englefield Rd property is an enviable location and has preliminary development approval for low-to-medium density residential use and potential for small lot subdivision, townhouses and aged care/retirement, subject to council approval.
May 31, 2017
Prominent barrister Stuart Morris QC is selling a controversial Ivanhoe East holding to SHL Development, a Canberra-based apartment builder with billionaire directors reportedly with powerful friends in the Chinese government. Morris, a former Justice of the Supreme Court and president of the Victorian Civil and Administrative Tribunal between 2003 and 2007, is understood to have achieved a price of about $30 million for the unusual Z-shaped development site of 14 homes, which took 26 years to amalgamate. The offering covers 1.5 hectares and has four street frontages including to Wamba Road, opposite Ivanhoe Park. The southern part of the block snakes around one home. The parcel shares a fence with three more homes and a block of units. In 2006, while at VCAT, which decided on many sensitive suburban apartment developments, Morris proposed replacing the site with a medium-density aged care complex that would have added a new product type to the quiet, leafy area. In that year, Morris also offered the site for sale before withdrawing it. The lawyer declined to comment about the current sales transaction when contacted by Capital Gain. A number of old homes on the site, which aren’t heritage protected, are expected to be razed as part of upcoming redevelopment plans. SHL Development made its first Melbourne purchase in 2015 paying $30 million for a 6320-square-metre Brunswick block at 699 Park Street, opposite Princes Park, then in March unveiled plans to build on it that suburb’s tallest apartment complex (with 13 levels). In 2015 the company paid $64 million for land next door to the new Canberra headquarters of Australia’s domestic spy agency. This property is now being marketed as the Campbell 5 housing estate. Last February SHL Development paid $47 million at auction for the city’s rundown Currong and Allawah flats complex, in Braddon. Last week it lodged an application to replace this site with 329 flats in buildings up to 12 storeys. Morris, whose Ivanhoe East home is about a kilometre away from the development site he is selling, is being represented by Colliers International’s Jeremy Gruzewski and Ted Dwyer.
April 4, 2017
Construction has begun on the $80 million Uniting Communities mixed use residential, commercial, retail and social services hub in Adelaide.
April 4, 2017
Stockland has released land targeted at first home buyers in masterplanned estates at Willowdale in Sydney’s south west and at Elara in Marsden Park and Altrove in Schofields. NSW planning minister Anthony Roberts launched the Willowdale properties on Sunday.
March 27, 2017
Medical fund manager Heathley Limited has acquired the 1179sq m commercial property leased to Nundah Medical Centre at 1220 Sandgate Road, Nundah in Queensland for $6.6 million. The 2042sq m corner site was sold at an initial yield of 6.5 per cent. Savills Jack Morrison and Peter Chapple, who acted for a private seller, said the asset had development upside.
March 8, 2017
Charity Uniting Communities has appointed Built for construction of its $80 million mixed use Adelaide CBD development that will include residential, commercial, retail accommodation and social services hub. The 20-storey Woods Bagot designed building, which will be called U City, will have a specialist disability short-stay accommodation facility, six floors of retirement living residencies and include retail and office spaces, a 400-seat function centre and cafe.
March 8, 2017
The Australian Chinese Medical Association of Victoria has sold at auction its headquarters in Box Hill for $3.21 million, 65 per cent above the reserve price. The office building, at 862 Canterbury Road, was acquired by a retailer. Sandro Peluso, Chao Zhang & Josh Twelftree from CBRE steered the campaign.
February 24, 2017
A private developer has bought a tenanted older style medical facility on Hastings Road, Frankston, Victoria for $3.1 million from a private seller, on a sale and lease-back. Colliers International’s Ben Baines and Adrian Rowse marketed the hotly contested expressions-of-interest campaign for the 804 sqm building, sold on a yield of 6.1 per cent.
