Anthony Gurry - who for years ran South Yarra’s Quest Hotel and was once the development manager for Rupert Murdoch’s nephew Paddy Handbury who is one of Victoria’s richest men - is selling a picture-perfect Bendigo asset.
Read moreThe Queen’s Birthday long weekend marks the start of the ski season. And this year, it might also mark the last chance to buy into the highest apartment development yet built on Mt Buller.
Read moreDemand for upmarket boltholes in Australia's favourite winter playgrounds is on the rise.
Read moreA leader in boutique apartment developments throughout Melbourne, Werden Property Group has been carefully crafting contemporary homes for the past 20 years. We asked the group’s Founder and Managing Director, Ray Werden, to share his thoughts on the apartment and boutique property market.
Read moreFor those of you playing along at home, you might have noticed that Richmond has been flavour of the month here of late. To be specific, Cremorne has been pinging on our property radar; to hone it even further, this little block, bordered by mighty Punt Road, Swan Street and the Yarra, has thrown up a couple of ripper pads recently.
Read moreYou may have noticed that some of the most well-crafted apartments to launch to market lately boast interiors by renowned interior design studio Mim Design – we certainly have. So who better to shed light on the secrets to creating beautiful, modern apartments than Senior Interior Designer of Mim Design, Charlotte McGill?
Read moreNightingale housing, which cuts out traditional developers and limits investor profit margin to 15 per cent, has licensed its first development to a commercial developer as it tries to work out how to expand the scale to its affordable housing model.
Read moreTwo separate development projects in Melbourne’s East Brunswick have combined in order to collectively adopt the Nightingale model.
Read moreWork is starting on an almost sold out $50 million-plus private residential development in the heart of Geelong. Ireland Brown Constructions has been named as the builder for Sinclair Brook’s urban development Geelong 1 Apartments. Preliminary work will start before Christmas with construction to be in full swing in the new year.
Read moreAn 80 per cent complete, 21 apartment residential development in eastern Melbourne's Donvale will be auctioned next month in a mortgagee auction. Lender ASL is selling the project by Erfanian Developments at 148-150 Mitcham Road with a settlement time of 120 days, which sales agent John Castran said would give a buyer time to complete the project and settle apartment sales. He declined to give a firm price guide, but said a mortgagee sale in Doncaster in July sold for $330,000 per apartment and he hoped to beat that.
Read moreThe Rochester is sustainably designed and elegantly detailed, bringing to Fitzroy the chance to take up an effortlessly modern lifestyle that has a point of difference. Comprising 24 apartments in total, the development from Occasio offers stunning one, two and three bedroom apartments and a penthouse, suitable for a wide range of residents and buyers.
Read moreJohn Castran, 60, is widely respected as an authority on Australian alpine property values and development. His Castran Pty Ltd agency, founded almost 35 years ago, also specialises in the marketing of inner-Melbourne developments under the direction of his son Lachlan, but regularly features in major sales in the alpine areas.
Read moreSeventeen of Australia's highest blocks of land at Mount Hotham - Dinner Plain have been auctioned. Another two are expected to go under contract. Agent John Castran confirmed 11 freehold blocks and six of 10 leasehold blocks sold from between $170,000 and $255,000. Bidders included developers the Grollo family. The land was sold by Merlin Entertainment Group, which owns the Hotham Alpine Resort.
Read moreThere might have been good early cover at Australian ski resorts this winter but recent chalet sales activity has been little more than a snow flurry. There is, however, keen interest in any luxury off the plan offering. Whitehorse Village at Mount Buller, a development by snow veterans the Grollo Group, ranks as the most exciting property project in the Australian Alps. Lorenzo Grollo, son of Rino and Diana Grollo, has been planning the $35 million development for the past decade. Whitehorse Village sits next to the Bourke St ski run in the area known as the Toorak of Mt Buller. And Castran Real Estate agent John Castran reckons the project...
Read moreLocated on the shores of Victoria’s Gippsland Lakes, Bay House at Metung has sold for a record $2.8 million. The charming three-bedroom residence is on an 1888sq m block on Bancroft Bay, at the upper end of the town’s market. The Metung Road retreat, now with a makeover by Brownlow Interior Design, had been traded for $2.55 million in 2007, setting a record only bettered last year when another house on what’s known as Shaving Point sold for $2.62 million.
Read moreSet in “the most exclusive drive-in, ski-out village in Australia’s alps”, this metal-clad chalet overlooks the Bourke St ski slope. It features an open-plan kitchen, dining and living area with a gas fireplace, which flows out to a terrace offering panoramic views of the valley.
Read moreMELBOURNE’S booming property market has reached new heights this year, with the results flowing up to Mt Buller. Affectionately known as Melbourne’s mountain, the face of Mt Buller is changing with high sale prices and new developments. John Castran, of Melbourne-based estate agency Castran, said the mountain’s property market had been exciting this year, with high-income earners buying up big at the top end. Mr Castran said there had been $47 million worth of property sales on the mountain in the past 12 months, with some sales topping $3 million. “It is a direct reflection of the capital city prices as a result of the last 10 years of...
Read moreGeelong locals have jumped at the chance to buy luxury apartments in an inner-city $50 million private residential development. More than 80 per cent of the 110 apartment development, on the site of the old St Mary's school, has sold since the grand opening in September last year. G1 Apartments, a Sinclair Brook development, is the only one of its type in Geelong and the demand for that type of living is evident from the sales success.
Read moreCastran director John Castran said three sold, and negotiations were continuing with three parties for the fourth - an 8778sqm land holding at 21 Kalimna Jetty Rd, containing the Kalimna Hotel, which passed in at $1.9 million. A Chinese buyer snapped up a vacant 2050sqm site suitable for up to 12 dwellings at 47-51 The Esplanade in Paynesville for $405,000. Two Melbourne developers also bought two separate properties at 595 and 601 The Esplanade, Lakes Entrance, which offered 1579sqm of land between them. The former fetched $310,000 and the latter, $365,000. "More developers are moving into this area because sites are so expensive in Melbourne,"...
Read moreThe state government has selected Richmond developer Ben Genser from a shortlist, which also included Rino Grollo, to develop what was marketed as “the most significant site ever offered in the Australian alps”. The Mount Hotham Alpine Resort Management Board office occupies a 1905-square-metre plot acknowledged by the government in its tender last year as “universally regarded as the best location in Mount Hotham”. Elevated and abutting the Corall car park on its eastern boundary, the block at 28 Great Alpine Road is opposite Hotham Central, White Crystal Apartments and a short distance to the helipad and Road Runner chairlift.
Read moreBUYERS searching for views rivalling Portsea and Lorne to soak up with their counter meal could snag a bargain next month. The Kalimna Hotel is set to have its fate determined at a realisation auction alongside two other East Gippsland esplanade sites. Castran director John Castran said he expected the 8778sq m property at 21 Kalimna Jetty Rd to sell for $2.3 million-plus. That’s just a fraction of the whopping $17.1 million price tag Portsea’s iconic pub attracted last year. It’s also not a bad deal when compared with the $3 million the Kalimna last sold for in 2009, according to CoreLogic records. “It’s got without a doubt the...
Read moreMeanwhile in nearby Dinner Plain, a Singaporean group has paid $4.8 million for a prestigious day spa at 125 Big Muster Drive. Upon lease expiry, the new owner plans to convert the alpine retreat on a 2040-square-metre block near the Mount Hotham airport into a high-end wellness centre/cancer clinic. The leasee, Merlin Entertainment, which is listed on the London Stock Exchange, pays annual rent of nearly $830,000 on a lease expiring in 2022, with extension options.
Read moreMelbourne developers Rino Grollo and Ben Genser, with alpine business Hoys, are the three shortlisted parties in negotiations to seize control of a central Mount Hotham site from the state government. Listed only a few weeks ago, the Mount Hotham Alpine Resort Management Board offie at 28 Great Alpine Road sits on a 1905-square-metre block that offers 360 degree view. It has the potential to be replaced with a five-level building, says selling agent John Castran, of Castran real Estate. The sale is conditional on the new owner building new public services on site, which is zoned mixed use and allows for the construction of residential,...
Read moreGlobal hospitality group Wyndham Worldwide has moved into the Victorian snowfields, snapping up a family-owned alpine lodge near Mt Hotham as part of its new ski resort. Wyndham acquired Peppers Rundells Alpine Lodge from owner Gary Battershill and will rebrand it as Ramada Resort Dinner Plain. It will buy a further 30 chalets in Dinner Plain. Wyndham president Barry Robinson said the acquisition would add to its South Pacific hotel portfolio, which had hotels already in New Zealand, Fiji and Thailand. "We see Ramada Resort Dinner Plain, Mt Hotham as a ground-breaking acquisition and a natural fit for our vacation club, WorldMark South...
Read moreMajor developers are queuing up to be part of what many are calling a "game changer" at Mt Hotham, says specialist alpine agent John Castran. An expression of interest process closes in Mid-October for a five-storey development in the middle of the village including basement car parking, shops, offices and apartments. The successful developer will also need to make allowances for a medical centre and the resort's ski patrol. "We have high profile developers driving into what will be the biggest thing to happen at Mt Hotham for more than a decade," Mr Castran said. "The capital city markets are buoyant at the moment so many of these developers...
Read moreThe Geelong 1 Apartments development has set a new benchmark for the area, writes TESSA HAYWARD HERALD SUN, MONDAY 3rd October 2016 A record-breaking 30 apartments sold at the grand opening of the Geelong 1 Apartments on September 24. Castran Projects managing director John Castran said it was a record for the greatest number of apartments sold in Geelong in one day. "It is because they are affordable. People aren't stupid," Mr Castran said. He said the most popular apartments were the rooftop apartments in the $500,000-$750,000 price bracket, with all of them now sold. "They really flew off the shelves," he said.
Read moreMelbourne buyers snapped up 40 per cent of the apartments sold in Geelong's biggest residential development, G1, over the weekend. The $80 million project in Bellerine Street, next to the Geelong city centre, racked up 30 sales at its weekend launch, a "ballistic" result, according to the project's marketer, John Castran of Castran Projects. G1 offers 110 apartments over six levels, with prices starting from $289,000 for a 53-square-metre one-bedroom unit with a car park and balcony. Two-bedroom units start from $389,000 and three-bedders from $550,000. According to CoreLogic, the median apartment price in Melbourne is $480,000. "People...
Read moreA record-breaking 30 apartments sold at the grand opening of the Geelong 1 Apartments on Saturday at the old St Mary's school site. Castran Projects managing director John Castran said it was a record for the greatest number of apartments sold in Geelong in one day. "It is because they are affordable, people aren't stupid," Mr Castran said. he said the most popular apartments were the rooftop apartments in the $500,000-$750,000 price bracket, with all of them now sold. "They really flew off the shelves," he said. This is after more than 15 apartments sold before the grand opening.
Read moreMORE than 15 homes in the controversial former St Mary's school site development have already sold, before the project has officially launched. The Geelong 1 Apartment development's grand opening is on Saturday. Castran Projects director Lachlan Castran said interest in the apartments already indicated the project was filling a void or niche in the market on both price and product. "Something like this hasn't really been offered before in Geelong... the level of inquiry is unprecedented, it is very strong," Mr Castran said. With the majority of apartments priced from $295,000 to $795,000, with two exceptions that are up to $1.3...
Read moreMark Adams has sold 16 properties at Mount Buller since the start of July - nearly double the number he sold over the same period last year. The increased demand hasn't yet translated into increases in price at the Victorian resort, but buyers are paying the prices the were unwilling to meet last year, said Mr Adams, a 20-year veteran of the area. "The sales are very strong this year. This calendar year I've noticed it started improving. Since June, it's really picked up." Prices at Mount Buller, Victoria's second-largest resort by skiable terrain after Falls Creek, are still in the $300,000-$450,000 range for a two-bedroom apartment with...
Read moreThe Australian Financial Review has spoken to the team behind the most intriguing recent property sale for our column, How it Sold. The property: A three-bedroom apartment at Whitehorse Village, Mt Buller Victoria. Sold off-plan for "around $1.5 million". Who was the agent/agency? John Castran, Castran Alpine. Buyer Adrian Field, founder of ISGM. How long was this on the market? [John] Altiset, the Grollo family's company that owns the resort, received permission in May to build effectively 15 chalets in five buildings in a gated community. It's the highest piece of developable land at Mt Buller. It went on the market in June....
Read moreThe management board of Mt Hotham is selling a 1905-square-metre mixed-use development site in the Victorian ski resort's main village. The site, on 28 Great Alpine Road, can be built up to five storeys and the board wants it to incorporate new commercial, medical and ski patrol facilities in addition to residential accommodation, real estate agent John Castran said. "What they want is to find a suitably qualified developer that can share with them the vision of unlocking the value in the site," he said. "What the resort board would like to see is a developer that will reincorporate the medical centre and ski patrol into a new building."...
Read moreThe Victorian Alps’ next big development is being undertaken by the Melbourne-based Grollo family who have approval for Whitehorse Village at Mount Buller. Designed by Melbourne’s Interlandi Mantesso Architects, the complex being marketed through Castran Real Estate, is adjacent to the Bourke Street ski lift. “The metalclad upper floors hover over a solid stone and masonry base, anchoring each chalet to the ground,” the marketing says. Two of the eight chalets have sold.
Read moreWhen Geelong's largest apartment building hits the market next week it is thought up to 30 per cent of buyers will be future "super commuters" from Melbourne. The real estate agent did some exit polls at CBD display suites and found many Melburnians would entertain the idea of moving to the seaside centre and travelling to the city for work, if it meant better housing for their budget. Two-bedroom apartments at the Geelong 1 Apartments will sell off the plan from $389,000. The project's real estate agent, John Castran from Castran Projects, said if you had the same amount of money in central Melbourne you could probably afford a unit on the lower...
Read moreAn open-air car park at a busy Heidelberg junction - billed when it hit the market 14 months ago as being at Melbourne's highest point - has sold to local developer Caydon and will now make way for a $150 million mixed-use project. The 3360-square-metre triangle-shaped block at 443 Upper Heidelberg Road is also bound by Burgundy Street and the Bell-Banksia Street link, about 10 kilometres from town.
Read moreRino Grollo sold most of his 24 redundant Mount Buller holdings at auction today. More than $4 million of property sold under the hammer and in the minutes after the mass auction. Some 17 sold at auction, two sold prior and five properties were passed in but three of sold immediately after.
Read moreCaydon Property will be hoping third time is a charm with redevelopment plans affecting a prominent industrial site on the Yarra River's edge. Backed by Joe Russo, Caydon is seeking to build 271 apartments on the former Beaver Plastics plant which also abuts the Monash Freeway in the Richmond pocket known as Cremorne. The $104 million proposal being overseen with respected development manager Georgia Willis, will contain a 16 level residential tower as well as commercial space.
Read moreA local developer is understood to be in due diligence to pay more than $22 million for a high-profile site which forms the western edge of the Haymarket roundabout in North Melbourne. The adjoining blocks known as 1 Flemington Road and 245-249 Peel Street, together with 3-5 Bedford Place are opposite the University of Melbourne's Parkville campus and the new Victorian Comprehensive Cancer Centre.
Read moreFourteen hundred potential buyers swamped the Gippsland lakeside town of Metung, keen to pick up a bargain site for their dream holiday home or boat. All 86 properties put to auction in East Gippsland on Sunday afternoon sold under the hammer, fetching more than $11.5 million.
Read moreTHIS release of some of the most spectacular allotments offered on the Great Ocean Road at Apollo Bay has taken 15 years to work its way through the planning approval process. And for the 13 lucky buyers, it will be well worth the wait. The payment structure for The Beach is attractive too, with the land being sold on a $2000 deposit, followed by a top- up to 10 per cent in six months and settlement in two years.
Read moreThe deal was done within 48 hours. The Chinese billionaire had zeroed in on 54 hectares of farmland in Werribee, golden fields of canola in full bloom, just off the Princes Freeway, not far from where the suburban fringe begins. With lightning speed, the contracts and documents were sent to China for translation overnight. When they arrived back, the only things veteran real estate agent John Castran recognised were his logo and that of his solicitor.
Read moreDevelopers pocketed more than $70 million in just 90 minutes in Glen Waverley on Saturday morning, as hundreds of buyers jostled inside a display suite for the chance to secure an off-the-plan apartment. The crowd had already forked out $2500 per group just for the chance to be there, with potential buyers required to purchase a ‘golden ticket’ in order to get through the door.
Read moreProspective buyers of 267 off-the-plan apartments in Glen Waverley are being asked to pay $2500 to secure first dibs at purchasing a home. It is possible to register for the event without parting with any cash upfront, but the real estate agency handling the project, John H. Castran, warned it comes with a genuine risk of missing out.
Read moreCarrington, a new boutique development of 50 residences, has been designed for luxury and liveability near the booming epicentre of Melbourne’s Chinese heartland – Box Hill. Landream, the developer behind the recently approved Zaha Hadid-designed building in Collins Street, has partnered with award-winning Plus Architecture to deliver thoughtfully designed, high-quality residences offering refined prestige amid the rich culture and community of central Box Hill.
Read moreBUYERS have rushed to snap up apartments in Glen Waverley’s planned Galleria tower in a property frenzy never seen before in Monash. Apartments in the 15-storey luxury development sold at a rate of about $35 million an hour when they went on sale on October 10, with about $150 million worth of property sold in the first 48 hours. More than 200 groups paid $2500 to be among the first to secure one of the 267 one and two-bedroom apartments to be located opposite The Glen shopping centre at 52 O’Sullivan Rd. Agent John Castran, of John H Castran Pty Ltd, said staff could barely keep up during the registration-only pre-release, which he believed set a...
Read moreA Village within a village – unique you might say? Well not really when you think of retirement villages within townships – but Whitehorse Village at the top of Mt Buller is a new and exciting concept for Victoria’s prestigious alpine village. This is a complete ‘alpine village’ within a confined building envelope at the top of Bourke Street – all within the Mt Buller Alpine Village. An exclusive drive in, ski out village – and Mt Buller boasts the most significant alpine community, all within an each three hour drive of Melbourne. Imagine sitting in your own living room watching the sunrise over the mountains – or even on a winter’s morn over the...
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