Southbank on the rise
Southbank is further consolidating its position as Australia's high-rise capital, with another landmark tower mooted, this time for a site near the corner of City Road and Clarendon Street.
The proposed apartment building at 293-297 City Road will rise 81 levels, or 259 metres, making it taller than the 72-level Prima Pearl building, which has just finished construction, but shorter than the 92-level Eureka building, completed in 2006.
The country's tallest proposed residential building is earmarked for a nearby Southbank site; Australia 108 will rise 100 levels, or 319 metres, from the corner of City Road and Southbank Boulevard.
Last December, James Packer's Crown Casino teamed with Melbourne developer Schiavello Group to propose an 84-level apartment building and hotel at 1 Queensbridge Street.
Last month, the new owner of Hanover House at 158 City Road applied to increase the height of an approved apartment building from 44 levels and 464 apartments, to 66 levels and 722 apartments.
Thirty-eight Southbank Boulevard has also recently been the subject of a 71-level, 846-unit planning application.
By comparison, 293-297 City Road is proposed to offer 532 units atop ground-floor shops and a 173-bay car park. The site is currently a low-rise car rental yard.
Vinci Carbone agent Frank Vinci, representing the owner, says it has been approached by several parties proposing a joint venture development for the tower. If approved, the owner will decide whether it will seek a JV partner or develop solo, he said.
The country's only other super-tall residential high-rise, Gold Coast's Q1, soars 80 levels or about 245 metres (excluding spire).
Vasili sells garden centre
Vasili Kanidiadis – award-winning nursery owner, TV show host and regular on radio station 3AW – is selling the famous Coburg garden centre his family has owned since 1968.
The 1000-square-metre plot at 21-25 Munro Street is expected to make way for an apartment complex in the medium term, but is being sold with a lease to Vasili's Garden and Cafe Centre. The site is opposite the Coburg Market and near the Coburg train station.
As well as a nursery and coffee shop, the complex includes an auditorium where Kanidiadis hosts cooking classes and gardening demonstrations. His popular SBS and Channel 31 TV show Vasili's Garden passes on garden tips learned from other green thumbs.
Peter Markovic's George Stathopoulos and Peter Markovic are marketing the Munro Street asset for the Kanidiadis family.
Across town last year, the owners of Bentleigh's 70-year old Broadbent Nursery sold their Centre Road site to developers.
Prince Alfred on the block
Crawford Group of Companies, headed by Carlton Football Club president Mark Lo Giudice, is selling the popular Prince Alfred Hotel near the University of Melbourne.
The 1920s corner pub in Grattan Street, Carlton, is expected to fetch more than $4 million, sources say. CBRE is the marketing agency.
Defries nips and tucks
Medical supplies manufacturer Defries Industries is moving to a new Dandenong South headquarters after some real estate nip and tucking.
Defries, which manufactures everything from anesthesia-related equipment to replica nipples – will consolidate to a new facility at 1-7 Vision Street, which it bought from Lettieri Property Group for $4.5 million. A custom office and warehouse facility is now being developed on the 7000 square metre site.
The move has allowed Defries to offload six outgoing smaller factories in Kempson Court, Keysborough, for almost $3 million.
Cameron Industrial Commercial's Ben Murphy negotiated the Innovation Park deal for Tony Lettieri. Mr Murphy also sold Defries' Keysborough assets. Defries was established in 1981 and is represented in Australia and New Zealand.
Pedalling hard for charity
Tis the season for industry fundraising, with some of the sector's biggest names reading this column after a week touring the picturesque New Zealand countryside ... for charity.
Dozens of participants from the commercial and residential sector participated in the annual Victorian Chain Reaction bike challenge, which this year covered 1000 kilometres and has raised more than $1.5 million.
The initiative, for which riders are sponsored, has raised more than $12 million for numerous charity partners over nearly 10years.
Meanwhile, on March 20, the Property Industry Foundation will host its annual charity yachting regatta at the Royal Brighton Yacht Club. The Brookfield-sponsored event has America's Cup skipper John Bertrand AM as patron and last year raised more than $100,000 for homeless charities.
Thirty five companies, including Bunnings Group, Charter Hall, EY, Investa and Mirvac, have registered for the regatta where a maximum of 45 boats can participate.
Site earmarked for housing
The consortium behind the redevelopment of the former Amcor paper mill in Alphington plan to fit thousands of new residents in apartment buildings rising up to 14 levels.
The tallest towers will be on Heidelberg Road; however a major residential building is earmarked for part of a former factory near the Yarra River bank, abutting the Chandler Highway bridge.
Alphington Developments and Alpha Partners this week released details of the $1 billion village set to replace the 16.5-hectare site, until 2012 occupied by Amcor. It paid $120 million for the development site in 2013 after plans to sell the block to Sydney-based Lang Walker fell through years earlier.
Alpha's proposal includes a hotel – but not a government school (instead the village will include a junior education facility accommodating Preps, Grade 1 and 2). It will also include a linear park, gym, offices, showrooms and performance space.
Interestingly, parties wanting to view public information about the project online need to register their personal details on the developer's website first.
Factory gives way to time
Australian Unity is paying more than $20 million for a massive Prahran factory that is expected to be replaced with a medium-density aged care facility.
The 2662-square-metre block on the corner of Greville and Charles streets also abuts the Prahran train station, which serves as the western edge to a popular shopping strip. Any redevelopment of the site is expected to include lower-level retail – the precinct commanding amongst the highest commercial rents outside of the CBD.
Chapel Street, Commercial Road and Toorak Road shops are a short walk away from Australian Unity's latest buy.
The low-rise building on the site was at one stage occupied by the Voluntary Euthanasia Society of Victoria.
Email: marcpallisco@gmail.com
Twitter: @marcpallisco
