HIGH-RISE APARTMENT BUILDINGS – VICTORIA – DESIGN AND CONSTRUCTION

Desperate off-the-plan buyers seek early exit

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 33 : 18-Jun-19

A rise in valuation shortfalls is seeing a surge in buyers of off-the-plan apartments in Melbourne trying to get out of their contracts. Many such buyers are using DIY website forsalebyowner to do so, with website operator Colin Sachs noting that such apartments cannot be sold via traditional real estate agents. He says the situation presents enormous risks for developers, as they need these buyers to pay up so that they can fund their projects.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, FORSALEBYOWNER, 360 PTY LTD

Financiers torpedo Crown tower project

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 33 : 5-Mar-19

Crown Resorts has not been able to secure an extension from the Victorian Government for a planning permit for a proposed hotel and apartment tower in Melbourne’s CBD. Crown had proposed to build the $1.75 billion tower opposite its casino under a joint venture with Schiavello Group. Under the terms of their planning permit, Crown and Schiavello had two years to commence development before the permit expired. However, they were unable to secure suitable financing arrangements for the tower, which would have been the tallest in Australia.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, SCHIAVELLO GROUP PTY LTD, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING, WILKINSON EYRE ARCHITECTS

Chinese developers spend $56m on Melbourne sites

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 31 : 6-Jan-16

Three residential development sites in Melbourne were sold to Chinese developers during the Christmas 2015 holiday period. The transactions included the sale of a 6,000sq m site in the suburb of Oakleigh for $A28m, while an office building in South Melbourne fetched about $A15m and a two-storey office building in St Kilda Road was sold for $A13.7m. At least 800 apartments are expected to be developed on the three sites.

CORPORATES
CBRE PTY LTD, VIAPAC AUSTRALIA PTY LTD, GUANGDONG CARRINGTON REAL ESTATE GROUP, YONG HALL PTY LTD, SPACIOUS GROUP

Apartment plan raises fears for Skipping Girl sign

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Original article by Lucy Battersby
The Age – Page: 5 : 5-Jan-16

Salta Properties is seeking council approval for an apartment project at 647 Victoria Street in the inner Melbourne suburb of Abbotsford. There are concerns that the proposed apartment tower will adversely affect views of the iconic Skipping Girl Vinegar sign, which has been a local landmark for decades. Salta MD Sam Tarascio argues that previous buildings on the site had a greater impact on views of the neon sign.

CORPORATES
SALTA PROPERTIES PTY LTD, CITY OF YARRA, COLLINGWOOD HISTORICAL SOCIETY, NATIONAL TRUST OF AUSTRALIA (VICTORIA), AGL ENERGY LIMITED – ASX AGL