Saturday, May 15, 2021

The freedom of the press still furnishes that check upon government which no constitution has ever been able to provide – Chicago Tribune.

Tags Value

Tag: value

Melanka block on the market again

The site of the former Melanka hostel in Todd Street is on the market
again, for an asking price of $7.5m plus GST, this time complete with
an exceptional development permit for a five storey "tourist and
residential complex".

The land was bought in 2006 for $6.12m. The hostel was still in place but has been demolished since.

The land's unimproved capital value in July, 2009 was $4.5m.

The raising of the height limit from three storeys to five was opposed by some sections of the community.

L J Hooker's Doug Fraser says the fresh advertising of the property
has only just started, and although there have been a couple of
enquiries, it's likely to take some time for a sale to be achieved.

Mr Fraser said in June that
the developer, Christian Ainsworth, a member of the poker machines
dynasty, had commissioned Deloittes to assist in the development and
that "the building costs will need to come down".

The total area is 1.3 hectares and "architectural plans will be passing with the sale," says the promotion.

The agency says this is a "prime corner allotment with three street
frontages and adjoining parcel at rear ... and numerous fully
established trees on site".

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