Age Journalist Reports Sale

Extract from THE AGE – Domain (Page 10)
March 17
by Marc Pallisco

MANY precincts will end this decade with apartments on the skyline, including sleepy and very suburban Highett, about 18 kilometres south-east of the city. This is because, last year,several builders including the state government’s development arm, bought former commercial sites in prime locations with a view to replacing them with medium and high-density housing.

Focusing on a pocket near the Highett train station, bounded by Middleton Street and Highett, Graham and Bay roads, the highest profile site traded recently has been the 9.5 hectare CSIRO research laboratory, formerly controlled by the federal government, now owned by the Urban Renewal Authority (the new name for VicUrban).

The Urban Renewal Authority plans to merge the outgoing CSIRO facility with another site it bought in Bay Road last year to create a new residential village.

Another site, within the suburb’s Highett Road retail strip, is being replaced with a major mixed-use project called Vantage.

Under construction now and set to rise four levels upon completion, the eight-star energy efficient building brings the lifestyle and convenience of shop-top living to the southeastern suburb.

At 284-286 Highett Road, Vantage will include 126 oversized apartments with high-end fixtures and fittings.


Please Note: The Urban Renewal Authority (formerly known as VicUrban) is NOW known as Places Victoria.


Source:  Domain Apartment Guide March 2012(3.6Mb)