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Old December 13th, 2010, 11:34 AM   #41
Dockside
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Quote:
Originally Posted by Erektion View Post
.
Also told about another one on Flinders Street going up. Not overly tall but it's mentioned on here somewhere.
I saw today that demolition of the multi floor carpark on Flinders St has started now, but i forget the address and name of it but im sure its the same one your talking about. Its accross the road from the old Fishmarket site that Far East developed on Northbank..
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Old December 13th, 2010, 11:42 AM   #42
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Sorry Dockside I think he was referring to this one (Seeing as it's a FK job).

108 Flinders

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Old December 14th, 2010, 12:11 AM   #43
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well what carpark is Dockside talking about htat is being demolished???
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Old December 14th, 2010, 12:27 AM   #44
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Could be Aura apartments? That's pretty much across from the Fishmarket site, been on marketing for a long time...
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Old December 14th, 2010, 02:38 AM   #45
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Yeh I walked past that the other day. Demolition has definitly started (Aura).
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Old December 14th, 2010, 05:13 AM   #46
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really. interesting Aura was sort of 'off the agenda' for ages wasn't it.
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Old December 14th, 2010, 05:23 AM   #47
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Aura
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Old December 14th, 2010, 06:18 AM   #48
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Quote:
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Aura
I love this proposal.

Lets hope its all go on this design
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Old December 14th, 2010, 06:59 AM   #49
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I have updated the list on page one including status
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Old December 14th, 2010, 07:49 AM   #50
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Good job Grollo. Looks good.
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Old December 14th, 2010, 08:40 PM   #51
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Thats the one
Quote:
Originally Posted by melbournee12 View Post
Could be Aura apartments? That's pretty much across from the Fishmarket site, been on marketing for a long time...
I thought this one had died, but demolition of the carpark has started.
Lets hope construction starts soon after.
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Old December 15th, 2010, 12:20 AM   #52
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From today's Age


Property chiefs warn on units glut
THOUSANDS of off-the-plan apartment buyers could face losses as a glut forces many Melbourne projects into limbo.

Two major property players have broken industry ranks to warn buyers about an oversupply of poorly located apartments in the development pipeline aimed at property investors.

Rob Pradolin, general manager of developer Australand, which has $400 million in projects under way in Victoria, predicted that 30 to 40 per cent of apartment projects currently advertised for Melbourne would not go ahead.

Advertisement: Story continues below ''All those people who have paid deposits are locked in and can't pull their money out until the sunset clause in the contract expires in three, four and sometimes five years' time,'' he said.

Mr Pradolin predicted banks would control the market by confining lending for construction work to less risky developments in prime locations.

His comments come less than a fortnight after Melbourne property stalwart Max Beck, who founded Becton Property Group, warned in The Australian Financial Review of a potential slump in apartment values if the banks funded all the ''mega-projects'' proposed.

Proposals for 33,451 new apartments in 293 Melbourne buildings are now being advertised to buyers. The figure has leapt from 18,585 apartments in June 2008, according to research by property agency Oliver Hume.

The surge is a boon for the more than 500 real estate agents spruiking apartment developments to local, interstate and international property investors. However, just 13 per cent of projects launched in the past two years have started construction, a report by Oliver Hume showed.

Competition between projects for buyers, combined with stricter laws for foreign property investors, a slow-down in migration levels and the strength of the Australian dollar have resulted in disappointing off-the-plan sales for many of the developments.

Freehills property partner David Sinn said major banks were worried about a potential oversupply in Melbourne and looking to reduce their exposures by taking a hard line on lending to start construction.

Banks were shying away from projects where developers had little equity to put in or where off-the-plan sales had been largely to overseas buyers.

''The sheer volume of projects trying to get up at the moment is amazing and there is only a certain pool of money available,'' he said. ''The pool is insufficient to service all those projects.''

Mr Sinn said most banks were now refusing to lend to individual buyers for inner-city apartments. Buyers who had paid deposits could do nothing but wait their contracts out.

The head of property research at Macquarie Bank, Rod Cornish, said steep price rises for Melbourne apartments in the past year had enticed developers to launch more projects.

The trend was reflected in a record spike in building approvals, but did not mean all the projects would commence. ''Melbourne's been through the strongest migration ever seen,'' he said. ''But we expect a slowdown in overseas migration and negative growth in interstate migration, so that will impact the underlying demand for apartments in the inner city.''

He said lower international student enrolments were forecast to dampen the rental market, another factor making banks nervous to lend.

Mr Pradolin said that after a rush of apartment proposals to meet the housing shortage, there may now not be enough renters for one and two-bedroom apartments. He said apartment projects targeting owner-occupiers would fare better.

''Good apartment projects in good locations will always be in demand, but it's the projects in secondary locations that have increased in number and that is where buyers need to be more much more cautious.''

Oliver Hume's report showed that 90 per cent of all apartment sales in the inner city in the first half of this year were to property investors, many from overseas.

A proposed $85 million Southbank tower, the Verge Development, is believed to have been delayed by six months because not enough people have registered interest to begin construction.

The owner, DEC Australia, is also believed to be trying to sell another site, the City Wedge site on City Road, for which former planning minister Justin Madden approved a $600 million development up to 39 storeys high. A nine-storey development, 3181 Prahran on Commercial Road, has been deferred indefinitely and its building contracts cancelled.

Buyers of apartments in Baracon's Wrap tower at Southbank, which had reportedly been up to 90 per cent sold out for more than a year, were in limbo while the developer tried unsuccessfully to on-sell the site mid-year. It is now believed to be reconfiguring the mix of apartments.
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Old December 15th, 2010, 01:10 AM   #53
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Poor old Australand also chose the wrong time to pull out of building partments on Southbank and in the CBD :-)

Quote:
Originally Posted by Dash 222 View Post
From today's Age
Mr Pradolin said that after a rush of apartment proposals to meet the housing shortage, there may now not be enough renters for one and two-bedroom apartments. He said apartment projects targeting owner-occupiers would fare better.

''Good apartment projects in good locations will always be in demand, but it's the projects in secondary locations that have increased in number and that is where buyers need to be more much more cautious.''
Just like our projects in Parkville, Carlton and Burwood :-)

Why don't they get get a response to these claims from developers who are in the market rather than just get quotes from developers who are spruiking their own properties in competing locations?
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Old December 15th, 2010, 02:27 AM   #54
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Quote:
Originally Posted by Grollo View Post
Poor old Australand also chose the wrong time to pull out of building partments on Southbank and in the CBD :-)



Just like our projects in Parkville, Carlton and Burwood :-)

Why don't they get get a response to these claims from developers who are in the market rather than just get quotes from developers who are spruiking their own properties in competing locations?

lmao. very well said.
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Old December 15th, 2010, 04:56 AM   #55
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This thread should become a sticky so forumers can use it as a point of reference and it doesn't fall off the radar... And grollo can keep it updated
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Old December 15th, 2010, 04:58 AM   #56
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I as thinking the same thing, regarding self-interest getting in the way of the reality.

Australand now has interests in suburban subdivisions afterall, so it certainly does them no good if there is a lot of inner city competition. Its a pity if their talking down the market ruins the chances of other developments.

I agree that too many apartments are likely going to market at once, but the demand is still likely quite strong for many of the bigger developments to still do quite well.

Last edited by Melb_aviator; December 19th, 2010 at 07:22 AM.
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Old December 19th, 2010, 07:17 AM   #57
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If the new State Government has policy of developing infill sites, then are we able to compile a list of potential infill sites to compliment the boom list? Starting with Egate, Richmond RS, Fishermans Bend etc.
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Old December 19th, 2010, 07:28 AM   #58
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Quote:
Originally Posted by essendon bombers View Post
If the new State Government has policy of developing infill sites, then are we able to compile a list of potential infill sites to compliment the boom list? Starting with Egate, Richmond RS, Fishermans Bend etc.
Well I will have a go at a few possible options:

Maribrynong/Highpoint
Essendon Airport (If it was closed)
Port of Melbourne sites (If it was closed)
Seddon/Yarraville waterfront (If refineries/storage facilities were moved)

A lot of 'Ifs' in there though, so some detailed planning would be required to get to that point, which would only be in the medium to long term.
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Old December 20th, 2010, 01:44 AM   #59
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areas of significant public land interest (supposedly the liberals main area of interest):

1. E-Gate (tenants out from 2014) (half the size of Docklands)
2. Maribyrnong Defense Site (2000 lots at the low end of density for a site like this) (remediation for another 2-3 years)
3. North Melbourne/Arden Precinct (half the size of Docklands) (Industrial land with mix of public Victrack adn Private land, will need remediation, some areas ready to go, noted in Melbourne Metro information and Melbourne MSS review)
4. Richmond Station (significant VicTrack and VicRoads land on Swan Street - probably enough area for 4-5 10+ storey buildings)
5. VicRoads head office Kew (enough land for 3-4 10+ storey buildings (currently 2 10+ storey buidlings)
6. Werribee Employment Precint (Melways 206/207) former CSIRO land with Vic Uni, Werribee Hospital etc, could hold 2000 lots minimum at lowish density)
7. North Dynon precinct (north of Dynon Road along the train line - when the fruit and veg market is gone there'll be consolidation of land in the port region)
8. West Maribyrnong precinct (as per Melbourne Aviator - much of the container storage is VicTrack/Port land, most of that storage will happen at Laverton or Donnybrook in 10 years)
9. As per Melbourne CC MSS - (railyards and citlink decks)
10. Reservoir (like Richmond mainly government owned land aroudn the station that is currently used for at grade parking, a bus depot and nothing much else!)
11. The rest of Laverton Airbase next to Williams Landing... (do we really think the airforce needs 20 hectares of land 20km from the city now that it doesn't actually have an airbase here? the 9 hole golf course and 2 footy ovals seem particularly indulgent!)
12. Essendon Airpot (maybe, eventually, if all the stars align and someone decides its finished)

Areas of large Private landholdings that may be appropriate
1. Fishermans Bend (given Minister Guy mentioned it already - not sure what his boundary is though - not sure if this land is private or long term federal government leases)
2. Sunshine. (look at an aerial photo and tell me it isn't ripe for further development)
3. Southbank (despite all the current proposals in southbank there are still probably 50 sites with no plans that could be high density developments)
4. Any ex-industrial land in the inner 10km of Melbourne pretty much is suitable for redevelopment (think Cremorne, parts of Brunswick (Tip Top), North Melbourne as noted above, areas around Northcote/Preston/Coburg (Amcor site, Panch, Kodak, Pentridge)
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Old December 20th, 2010, 07:42 AM   #60
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the problem will still be NIMBY stirring up shit for anything thats larger than a detatched dwelling.
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