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Old Posted May 21, 2010, 3:48 PM
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Join Date: Mar 2002
Location: Melbourne
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Pearl ("Prima") - bottom right is selling now, pretty much guaranteed it's going to get built, will no doubt see the tenders for construction in the local papers soon.

399 Bourke & 72-82 Collins (top row, 2nd right and far right respectively) are 100% office so they need a major pre-commitment to get started. Currently the three biggest tenants reported to be looking new space are: NAB in the market for 40,000sqm, CBA 25,000sqm, Origin Energy 15,000sqm. CBA's requirement is pretty much 1/3 the total NLA for 399 Bourke St. And there's a distinct lack of new supply coming online in the next 12-24 months, it'll push rents up and the cycle starts all over again - these two will likely start later than the other 5.

CUB office tower (top-row, far left) is "phase 2" according to Grocon - Phase 1 is a 27L residential tower which will be selling soon. I'd say this will be the last to have any movement.

70 Southbank Boulevard (top row, 2nd from left) hasn't really had much mention in the past 12 months, up until last week: MCC (Melbourne City Council) are taking it to VCAT (planning tribunals) citing its "too tall", likely to be bitchslapped back to Bangkok (going by past VCAT judgements).

The Victorian Government automatically assumes planning control if a development is over 25,000sqm and thus control is taken away from local governments and Melbourne City Council are getting unusually plucky about this one.

Stork (bottom row, middle) - likely to hear more about this soon, The developer - Brady - are currently flogging off the last of their apartments in smaller projects in the CBD.

New kid on the block (568C): planning app just lodged with the Victorian Government: http://www.dse.vic.gov.au/DSE/Planni...5?OpenDocument

Regardless, no-one's really having troubles selling apartments in Melbourne at the moment (see how the market is in 12 months after Central Equity and Far East go through their sales campaigns for The Age site (800 apartments) and The Power Station site (2500 apartments!)) and if population growth stays high, it's likely many of them will get off the ground barring any exception circumstances like GFC Part deux.
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