The Age from Melbourne, Victoria, Australia • Page 28

28 THE AGE, Wednesday 22 February 1984 BUSINESS AGE 'Property Jennings announces $50m Queensland joint venture ROCK LACK AUCT WED FIRB restricts recovery here, says real estate chief 600 and 604 BALi MORTGAGEES SAl 2 retail freeholds with S-rm dwells) the heart of one of Mete's most delightful bayside INSPECT 12 12.30 26- 28 BERRY ST RICHMOND IMPROVED RETURN ON THIS ATTRACTIVE TIMBER COTTAGE PAIR IMMED. A tittle spruicing up of this Richmond property will io- irease rental return from 7000. Well tocat. on Richmond Hitl close to shoos and Jrans. this investment provided 1 cottaapt nf 7 hMirmt mrh snooping centres currently let on secure leases.

Rental shoo 604 $5280 o.a. Plus O.G. Shoo 600 pj plus Q-G. Excel tenanti. to be sold Separately prime investments TERMS: lOpc dec bal 60 by apoomtment only.

Further details and brochure con-, tact auctioneers: MICHAEL DEVOLA ASSOC 66 South Rd. Brighton -598 2808 AH 598 5979 and should sell in the $60's ture agreement within the week, the first being an equal joint venture agreement with Mr Sid Lon-dish to develop a $45 million office compex in North Sydney, built by its subsidiary Mirvac Pty Ltd. Jennings, funded by AGC, bought the Redbank site for a reported $5 million from Pacific Shopping Centres, which had also intended to build a shopping centre before deciding to sell. The 31,000 square metre Red-bank Plaza Centre will have a K-mart (8550 square metres) and a Coles New World (3950 square metres) as major tenants and there will be 105 specialty shops. Walter Reid's will also take up 2200 square metres.

AUCT. SAT 2S FEB AT 1 PM MALCOLM DINGLE CO. P.L Jennings also lifted housing sales by 28 per cent in the second half of last year. Mirvac Pty Ltd, the AGCs 51 per cent owned property subsidiary, will build the North Sydney project. AGCs net profit rose a marginal 1.2 per cent from $86.3 million to $87.3 million in the year to 30 September, 1983, the greatest pressure on earnings coming from the group's property interests.

Mirvac reported a reduced $3.99 million net profit for the year to 30 September, 1983, which included a million extraordinary profit on the sale of the group's Beecroft Shopping Centre property in Sydney to Mirvac Premier Property Trust. Jennings's managing director, Mr John Wood, said the Redbank plaza would service a trade population of 150,000 local people who were currently spending in Brisbane. The centre's architects, Buch-an, Laird and Bawden (designers of Sydney's Chatswood Chase Centre), will work in conjunction with Brisbane architects Powell, Dodds and Thorpe on the project. Mr Wood said the design of the building was well advanced and was based around a central atrium space three levels high with a glass canopy roof. There is a 2000 space car park.

A Jennings spokesman said the city of Ipswich was expanding and there was a shortage of shopping centres in the region. Mr Don Brannock, city planner for Ipswich council, said the site had been rezoned from rural to local commercial about three years ago and approved for development as a shopping centre in October 1983. He understood Jennings had bought the site from Pacific Shopping Centres several weeks ago after developing proposals over nine months. The joint venture projects follows a series of successful projects undertaken by Jennings during 198283. Sales and contracts signed during 198283 jumped from $450.3 million to $542 million, boosted to $700 million by its $145.2 million project management contract for Jupiter's Gold Coast casino.

Jennings Industries Ltd and Australian Guarantee Corporation Ltd, have formed a joint venture to develop a $59 million regional shopping centre at Redbank near Ipswich, Queensland. The Jennings Project Management Division will design and build the 31,060 square metre centre on a 9.41 ha site on the Cunningham Highway, 10 kms from Ipswich and 28 kms from Brisbane. It will service a trade population of 150,000. Construction is due to begin in April and is expected to be completed in time for Christmas trading next year. Bill Acceptance Corporation, a member of the AGC group, will fund the project This is AGC's second joint ven 766 Elizabeth St.

Melbourne BRIGHTON ABBOTSFORD $205,000 Strata potential okisH! Four solid bk. Victorian Terraces located attractive st. Each com-pns. 5 mam rms Indry. and spat, rear gardens.

Car access. Excellent investment. SIMON A. CONQUEST PTY. LTD.

cs rant at, ain rvieip. baaabib ALBERT PARK" AUCTION INVE! AND FUTURE HOME Superbly located, walk to Middle Brighton Station, parkland opposite. OUTSTANDING 11 ROOM 2 STOREY MODERN BRICK VENEER RESIDENCE. Loungerm seo. dinrnorm.

sep. den. Sep. family rm. SEP.

RUMPUS RM, 5 bedrms (master ensuite). 2 additional bathrms. BIG FAMILY SIZE KITCHEN, total 4 toilets, double garage-workshop, ouat. carpets Sc. AT PRESENT SUBJECT TO LEASE EXPIRES SEPTEMBER.

1S84 S22S P.W. Sole Agents D.T. BATEMAN PL RESl Cnr Hamoton St and South Rd BRIGHTON S92 3002 592 2s 1 2 AH 5922927 192 3272 14 5 VICTORIA AVENUE SUBSTANTIAL BRICK JHOP DWELLING PROMINENTLY LOCATED ON TRAM ROUTE. EXC. INVESTMENT OPPORTUNITY.

Downstairs como shoo 30.5 m2 (330 sq. Plus workroom and Kitchen mcl wo and ho. laundry, con I lntair mmn brn. rooms. modT bathroom.

"2nd w.c. Home program has interest-only loans BRUNSWICK 61-67 DAVID ST. Excellent Investment Opoor. Sing-le-torey Factory and adi. B.

house. ilii PA 'Gs. Lease: 3 yr. 3 Review: Annual C.P.I. AUCT.

SAT, 17 MARCH. AT 11 AM Prior offers welcome. Details: Charles On mw V'Mtrts ininjui f'iw- rear yard. Subject to existing monthly commercial tenancy. Gross annual return $9360.

Zoned kxal business. Potential tn abundance. AUCTION FRIDAY MARCH 2nd at 2.30 PM. Terms 10 DC bal. 60 days.

Open for inspect. Thurs. 3-4 Din. WILLIAM WHITE SONS inc. HUNT COMPANY f9 Glenhuntly Road.

Elwood 1 12S4. AH S79S929 ALBERT PARK AND -DISTRICT SOUTH MELBOURNE 147 PARK STREET AUCT SAT 17 MAR 12PM OPEN TODAY 2-3 PM Prominent 2 storey investment brk freehold of 8 self cont fiats let on mooerate rentals. Property is on 2 titles and offers wide investment potential. In coniuction S. A CONQUEST PL 225 Park St.

Sth Melb. 699 4SSS MACHIN SHEPHERD PALTOS PL 178 Bridport St. Albert Park 690 S399 AH S31 S3S2 THE PROPHflT Blocks near Buller released for sale Thirty-one sub-alpine freehold blocks at the foot of Mt Buller in the Great Dividing Range have just been released in a new project called Sawmill Estate Mt Buller. The fully-serviced residential sites ranging from 1146.92 square metres to 3306.2 square metres, are located on either side of Christensen Street, about 15 minutes from Mt Buller. Starting price for the blocks is $18,000.

A spokesman for the property's agents, Gardner Lang, said freehold land close to Mt Buller was scarce, and the blocks were likely to sell quickly. The property is also close to Mt Stirling, where the State Government is currently looking at developing an alpine resort. Hooker set to finish complex HOOKER Corp has nearly completed a $7 million shopping complex at the junction of High Street, Plenty Road and Dundas Street, South Preston. Woolworths have taken 3900 square metres for a large supermarket variety store and seven specialty shops with floor space ranging from about 80 square metres to 120 square metres are for lease at about $335 a square metre. Two of the shops have been preleased and five are under negotiation despite the expensive rental.

Car parking is available for 305 cars. Mr Gerald Doyle, a spokesman for Russell S. Davis Associates, agents for the property, said the centre was one of the best locations in the northern suburbs, with tram service along Plenty Road. 1 24 Johnston Frtiroy 86 14611 419 7nfifi BRymwfe east PAIR OF EDWARC IICK HOUSES ON Commercial Industrial Investment M.BERT PARK SI 20.000 2 STOREY SHOP AND DWELL-fNG currently let. lease renewable May 84.

IN PRESTIGE LOCATION. PETER SHELLARD P.L. REAA 61 Cardigan PI. Albert Park 690 3033 690 3624 AH S31 8284 1 ANTi. reftSrT 132) 0-2 m- ZONED: Light industrial.

PRICE 1 78.000 A model of Nippondenso's office and manufacturing expansion at Altona, built by Vaughan Constructions. mutnmmtmm ALBERT PARK VICINITY. 2 BR UNIT. SS3.7S0. VERY SCARCE AT THIS LOW PRICE.

AH 211 9530. 347 9894 GEO. M. HUME PTY. LTD.

6 BOWEN CRESCENT. MELB. 23 Nicholson East Brunswick .,,387 1411 BRUNSWICK WEST 2-11 EGGINTON ST. ASHWOOO SI 35.000 Untoue opport. to purcnase a 4 bedrm sol.

brk. home p'us 2 2 1 bedrm sgle storey units completely i SC. currently ret. 1 1 3.260 pa and due for renewal, sit. on dble allot.

delightful gardens cl all fac's i GROUND FLOOR STRATA UNIT. WITH UNDER COVER PARKING. This delightful unit includes lounge. 2 bedrms with BIRs. mod kit.

and tiled bathrm. GOOD ORDER THROUGHOUT VERY CLEAN. A TOP INVESTMENT. AUCT SAT 17TH MARCH 11AM DOUGLAS DAVIS PL. 180 RusseU JOHN HERON P.L 431 Warrigal Rd.

Ashwood 2S452S AH 21 1 6598. 45S 3335 AUSTRALIA is in real danger of missing the economic revival under way in other countries if the Government maintains its archaic stane on overseas investment in Australia, a Melbourne real estate manager says. Mr Roy Woodhouse. the managing director of Baillieu Allard Real Estate, who recently returned from a visit to south-east Asia and America, said the Federal Government should free up Foreign Investment Review Board restrictions. While the world economy had turned the corner and positive signs, particularly in America showed the worst was behind, Australia's FIRB regulations worked against recovery, he said.

Mr Woodhouse said during his visit businessmen from south-east Asia told him they could not understand the need for the FIRB laws, particularly after the recent decision to float the Australian dollar. Mr Woodhouse said in 1982 the Singapore Investment Corporation got a consultants report recommending investment in North America, Japan and Australia. The total amount of funds available for both resource and real estate projects was at least $2 billion. But investment decisions for Australia had been postponed because the FIRB regulations were too restrictive. They did not offer enough scope for foreign participation, and made too much provision for local ownership and control.

The same authority recently invested more than $100 million in office buildings in Pennsylvania, California and New Jersey. It was pointed out neither the United States, UK nor Kong were hampered by such stringent laws. Mr Woodhouse said the Australian Government seemed to think overseas investors had massive funds to invest in property in this country, but Australian investment properties did not show the return or capital gain that existed, particularly on the west coast of America. He said it was high time the Government realised Australia was a competitive force in the world economy. It seemed a paradox that on the one hand, Australian investors were free to buy property in overseas countries when foreign investment was restricted in Australia.

Ownership of Australian property overseas would free up much needed Australian capital for further business development in Australia, said Mr Woodhouse. Originally the FIRB was based on similar laws existing in Canada. But the Canadian counterpart of FIRB merely acted as a monitor of overseas investment, whereas the Australian FIRB had become a bureacra-tic monster running wild, which issued directives of a conflicting nature. This only served to confuse and antagonise local and foreign investors, Mr Woodhouse said. Regarding Hong Kong, Mr Wood-house said confidence was M.

btoj-SBI. AH ja0 694Z CAMBERWEI LL 113.1 3FDurFn Tr fii dtitriri A QUEENSLAND company set up to provide funds for the housing industry through an innovative program, will start operations next month following changes to stamp duty legislation by the Queensland Government. The company. Forward Mortgages Ltd (FML), will, subject to its lending policies, offer loans of up to 80 per cent of valuation on residential properties. Loans will be made on an interest-only basis, although borrowers will have the right of principal repayment by arrangement.

Continuity of funds for the company's lending activities are assured through distribution of promissory notes by competitive tender to a tender panel comprised of banks, merchant banks and money market corporations. These promissory notes are backed by a "pool" of mortgages and supported by letters of credit issued by major international banks, and the distribution further assured by the presence of underwriters. The underwriting agreement covering the first $50 million was formally signed before the Queensland Premier, Mr Bje'ke-Petersen, in Brisbane last week. Also in attendance at the ceremony were two senior overseas bankers, Mr Francis Cator, deputy chairman. J.

Henry Schroder Wagg Co Ltd, an English bank, AUCTION and liquid financial security similar to the Federal National Mortgage Association (FNMA) and Government National Mortgage Association (GNMA) products which are now a massive component of the housing finance market in the US," said Mr Calabro. Unlike the GNMAs the as the notes are expected to be called within the money market, do not carry a Government guarantee. But all mortgages in the pool backing the FML promissory notes will be fully insured by the Housing Loan Insurance Corporation, an instrumentality guaranteed by the Commonwealth Government. The group hopes to get the new system authorised under the Trade Practices Act. Mr Calabro said the notes would be popular with the type of investor who traded in 180-day bank bills, including the cash management trusts.

The funds provided by investors in FMLs will be available to provide mortgage loans on a floating rate of interest. This rate is calculated initially by adding 2.5 per cent a year to the 180-day Bank Bill Buying Rate (BBR) on the day funds are advanced. At the end of each 180 days, the interest is reviewed by the same method. Loans will be provided only against first mortgages of residential properties. "FML will be looking at the $50,000 and above market," Mr Calabro said.

61 63 MAIN ST MDNRtltK 2 SEP. PROPERTIES ON 1 TITLE Excell. letting or strata potential 1-3 bedrm. mod. Villa Unit 1-2 bedrm.

WB home BROOMHEAD BARBOUR P.L. 74R Mioh St AnruirfM WED 2 1ST MARCH AT 3 PM Excellent freehold comprising 2 Lock Up shops to be sold subiect to existing tenancy. Currently re- AH 80 4441 5 turning $6,760 pa Land 1 1 i me details Vol. fosiu t-oiio 203. INSPECTION BY APPOINTMENT N.R.

REID CO and Mr Doug Stewart, regional senior vice-president. Bank of Nova Scotia, and 35 other members of the banking and financial community. Lead managers for the first $50 million issue of FML promissory notes, are Australian Bank Ltd and Schroder Darling Co Ltd, who will be underwriting the note issue in conjunction with the Commonwealth Trading Bank of Australia and Standard Chartered Australia Ltd. Trustee to the issue is Westpac Banking Corporation's wholly-owned subsidiary. Bank of New South Wales Nominees Pty Ltd.

Forward Mortgages Ltd (FML) was set up by Mr Norbert Calabro. 43. a Brisbane chartered accountant, and Mr Graham Gartside, 41. a finance consultant and former corporate treasurer. Mr Calabro, the executive chairman of FML, said the development of the negotiable mortgage-backed promissory note was timely, economically beneficial and socially desirable.

"It provides a fully negotiable 1 73 Coleman PAratie Vaughan close to completing developments weeks ahead of schedule. The building is available for lease through sole letting agents Jones Lang Wootton. Vaughan's have also just completed a distribution centre with elevated office for the Goodyear Tyre Rubber Co (Aust) Ltd at Thomastown. The single-storey, steel-framed building with floor space of 10,034 square metres was built within 26 weeks, against a contract schedule of 27 weeks. Mr Neilson says the buildings were built quickly with the minimum of fuss because Vaughan Constructions use the Design and Ccnstruct method of building.

In this method, the organisation contracts to design and build the required building for a fixed lump sum and within a stated period. Cslen Waverlev CONSTRUCTION is almost complete on Nippondenso's $1.6 million office and manufacturing premises at Kororoit Creek Road, Altona. Vaughan Constructions Pty Ltd built the project on a design and construct basis. The development will increase the company's manufacturing operation by 2800 square metres to 14,000 square metres, with the administration building increasing from 608 square metres on two floors to provide a total of 1453 square metres. Vaughan Constructions have also nearly completed work on the Commercial Union group's $3 million new office development in Camberwell, designed by architects Synman Justin Bialek.

The 7769-square metre four-storey office development is at 3-13 Prospect Hill Road, on the corner of Railway Pde, close to Burke Road. Mr Neilson, general manager of Vaughan Constructions, said building started in 1983 and would be completed by the end of February, four S60 03SS AH Z9 1 36Z A truly independent and profession- a Miupvrir cuiisuiidnt i avaitduie for your investment andor devel RQPERTY opment needs. K.A. pi CONSULTANTS oz bbOb CARLTON 53-55 NEIL ST AUCT THtS DAY AT 3PM Pair 2 storey Victorian style houses in need of redecoratton, possible strata title or potential to convert to 1 dwelling. Each comprises 4 rooms plus kitchen and bathroom.

ROW at rear. LAND: 28 75 aooroit. 22.8m aporpx.) TERMS: 10oc dec. Bal 60 days RUSSELL DAVIS AH SO 55 SB 8ENTLEIGH EAST $59,000 Strata title factory-workshop. Zoned light industrial, currrently i leasd at Sb.000 pa to tenant in the motor industry.

R. REID CO. P.L. RESl 1 73 Coleman Pde. Glen Waverley 560 03SS BENTLEICH TsT.SOO i DF shop.

Renovated 2 bedroom dwell. Could suit owner-occupier. OM I Ar FY I ir RFA 153 Park It. 690 3600 ASSOC. South Melbourne AH 419 2041 62S Hawthorn Rd B'ton 578 0377 BLACKBURN $720,000 MODEHN OFFICE BUiLDlNG In the centre of Blackburn close to rail and suTounoed by car parking, this 2 Storey property is fully STRATEGIC COMMERCIAL AND CARLTON 53-55 NEILIST AUCT THIS DAY 3 PM Pair 2 storey Victorian style houses hi need of redecoratton.

possible strata title or potentta! to tonyert to 1 dwelling, ach comprises 4 rooms phis kitchen and bathroom. ROW at rear. LAND: 28" 7S aoorox. (6.5m 22.8m aoorox.) TERMS: lOpc deo. Bal 60 days.

ana reiurns JM.oou pa. FERNTREE GULLY S246.000. Aoorox 1122 factory located in est shooomg centre, currently leased at 127,000 Da plus O-G. Land aoorox 1858 sm. Buy now at industrial i rate and look at the commercial 1 potential.

Further parties avail from I DRAKE A CO. RESl 874 3355 483 Whitehorse Rd. MITCH AM RESIDENTIAL OPPORTUNITIES 19 QUEENS ROAD A very well situated part two storey building with REAL ESTATE WORLD RUSSELL DAVIS BRIGHTON EAST rear access via uueens Lane Land Frontage: 30.48M(100ft Land Area: 2322.5M (25,000 ft2) approx. Building Area; 2582 6M2 (27300 ft 2) approx. M.M.8.W.

and Municipal zoning: Special Residential Zone No 3 H.C. Area 52. Title Details. Vol 5137. Fol 1027210.

ASSOC 153 Park South Melbourne JO AH 41j afQ41 bO HAWTHORN RD AUCTION WEO 29TH FEB. 2PM Large D.F. shoo and comf. dwell, in sought after location. Sensible vendor, excell.

tenant. Avail, on long lease. CARLTON E3J UP DOOM ka (seas ccy LCD 306 Bay St. Brighton. 596 7411 470 ST.

KILDAROAD 3 Street Frontage. An excellent Victorian 2 storey building, situated on the corner of Leopold Street rear access to Queens Lane. Land Frontage: 28 04M (92 ft.) Land Area: 2136.7M2 (23.000 ft.2) approx. Building Area: 2322.5M2 (25.000 ft.2) Approx. and Municipal zoning: Residential Office Zone H.C.

Area 5 Title Details: Vol 5848 Fol11 69453 F3 RENOVATORS TAKE NOTE 167. 169. 171 CANNING ST 3 Victorian terraces needing renovation but with conditional aooroval lor strata sub-division. AUCT. SAT.

FEB. 25 AT 11 AM MALCOLM DINGLE CO. PX. 766 Elizabeth St. Melb.

347 0533 all hours CAULFIELD EAST ST KILbA 41 43 MELBY AYE AUCT THIS DAY 3PM SUPERB PAIR OE MAISONETTES $100m resort for sporting tourists CHEOY Lee Australia Pty Ltd, a Gold coast shipping company, plans to develop a $100 million tourist resort on a 500 acre site on Hope Island, near Surfers Paradise. It will include a marina, a five-star hotel, a sporting complex, a shopping centre, and a residential extension. Mr Michael Gore, chairman of Cheoy Lee Australia, said his company had talked to the Lawn Tennis Association of Australia about the association taking space at the complex. "Our discussions were only tentative since no firm proposal can be put to the LTAA, or vice versa, until our application before the Albert Shire Council is considered," Mr Gore said. The application was submitted last week.

The project will also include the establishment of a pleasure boat building industry aimed at the United States market. When completed, the Hope Island resort is expected to employ more than 700 people. The equal partners in the joint venture are the family interests of Mr Michael Gore, a Gold Coast resident, and the Lo family of Hong Kong, who operate one of the world's largest pleasure boat, cargo and passenger ship building industries. Mr Gore said the development also needed the approval of the Queensland and Federal Governments. An impression of the Goodyear distribution complex at Thomastown.

ASHBURTON 198 HIGH STREET EXECUTORS AUCTION FRIDAY 16 MARCH AT 3 PM Shop and dwelling centrally located best part of shopping centre ROW. Leased to Butcher for $715 rn, plus rates. For further details and inspection contact Auctioneers Former church for sale 572 ST. KILDAROAD 3 Street Frontage Built in 1896 this Gothic Queen Anne storey property had later additions in 1935. The building was classified by the National Trust 231 282 but as yet is still not registered.

land Frontage: 30.48M (1 00 ft.) to St. Kilda Rd. Land Area: 2322.5M2 (25.000 ft2) approx. Building Area: 1486.4M2 (1 6.000 ft.2) approx. M.M.B W.

and Municipal zoning: Residential Office Zone H.C Area 51 Title Details: Vol 8294. Fol 035. )EAL HOME OR INVESTMENT MELTZER AH 527 8395 Tim Clarke ASSOC LtS 722 High St. Arm. 299 Bav A former church and outbuildings at 25-27 Sackville Street, Colling-wood, which are used as a showroom, offices and warehouse, will be auctioned on 8 March at 3 pm.

The partly refurbished 492 square metre brick building on a 618 square metre site, is owned by Lygon Pty Ltd, importers and exporters, who are moving to larger premises. The property, in a prominent industrial area near Smith Street, and is zoned light industrial. Mr Frank D'Assisi, a spokesman for the agents, Chris Doyle Associates Pty Ltd, said the warehouse retained the original timber-lined ceilings from its church days. It would suit an owner-occupier, or it could be redeveloped into two or more factories. Mr D'Assisi said there was off-street parking for five cars.

He expected the property to fetch between $150,000 and $175,000. Terms are ten per cent deposit, balance 60 days. 509 7044 596 2991, AH 599880 Date of Auction: TUESDAY 27TH March at 3 PM. at The National Mutual Theatreette. 447 Collins Street.

Melbourne. Phone: 63 2821. AH: Simon Reed 509 0462. Michael Trenchard 204 21 5. MORTGAGEE'S AUCTION Wed 28 March 3pm.

0052GAL I growing and people "no longer had the crisis mentality" about the Chinese takeover in 1997. "Many businessmen in Hong Kong are liquid, but haven't exported their money. They've just changed it into different currencies." But he said some money was leaving Japan and Hong Kong for Los Angeles and San Francisco. "The west coast economy is buoyant with cars and houses selling well. "Investments in commercial buildings are returning 8.9 per cent in Los Angeles, and good tax benefits are available, but Australia is seen as noncompetitive.

Servcorp to set up health club Servcorp Corporation of Sydney plans to set up a $2 million health and fitness club on the galleria level of the $80 million State Bank centre, on the corner of Bourke And Elizabeth streets. The President's Club, which will cover 1858 square metres of floor space, is aimed at the corporate sector. AUCTION Tues. 28 Feb. 3.00pm.

EXC. INDUSTRIAL A A converted church now fP used as a showroomoffice ll warehouse complex at 25-27 Sackville Street, Collingwood "ftlllilp will be auctioned on 8 March. FREEHOLD DANDENONQ 40-46 Bennet St. Bldg. Area 2006m'.

Land Area 2.67 acres (ind. 21.000 sq. ft. vac. land leased to Dandy Garden Supplies).

2 St. Frontage, Parking, Provision for UNIQUE COMMERCIAL INVESTMENT. ARMADALE 1214-1216 High Street SUPERB RETAIL AND SPORTING COMPLEX Securely leased with current rental of $203,000 p.a. approx. Excellent building, extremely well fitted and with ample car-parking on site.

ZONING: RESTRICTED BUSINESS TERMS: 10 DEPOSIT BALANCE 60 DAYS. Noahs plan launched Perth-based Hospitality Holdings, the new owners of Noahs Lakeside Hotel, Canberra, plan to increase its site by about 50 per cent in a 13-storey extension costing $6 million. Mr Eric Leatherbar-row, the general manager and a director of Noahs, said architects and engineers had started work on the project and he hoped construction would start within six months. utureExpensionJ In 1983. aDDroximatelv 75 Robinson DANDENONQ 791 7300 MSI rMuxarlkioPiii 350 King St.

Melbourne. Phone (03! 329 8500 AH 546 4685 343 Lt. Collins Melbourne. Phone 1031 602 3444 AH 240 9063. AUCTION Thurs.

1 5 March, 3 pm. (450,000 sq.ft.) of office space was available in St.Kilda Road. In 1983, Hloura's first year, Hloura Plaza with its unique and appealing design leased approximately 25 of the available space leased in St.Kilda Road. Right now 65 of nioura Plaza is occupied. The facts are proof of Hloura Plaza's appeal in a market full of floor space.

MELBOURNE CENTRAL BUSINESS DISTRICT 2855 SQUARES DEVELOPMENT SITE Cor. SPRING AND LONSDALE STREETS Close proximity to the gardens, the Houses of Parliament, and opposite the newly comptetsd (north entrance) to Parliament Station. A rare opportunity to secure such a superb site for Hotel. Residential of Office Development in the thriving entertainment area of Melbourne. Zoned "Central Melbourne Redevelopment" under the Melbourne Metropolitan Planning Scheme and included in the City of Melbourne (Central City) Interim Development Order.

PRICE $2,500,000 with Vacant Possession on or before December 1984 by mutual agreement. ATI inquiries to Mr. M. Holland. PRIME INDUSTRIAL DEVELOPMENT SITE OF 3,668 m2approx.

F0OTSCPSAY 224 Whitehall St, cnr. Hall St. PROMINENT CORNER CLOSE NEW FOOTSCRAY ROAD, RAIL AND MAJOR TRANSPORT TERMINAL. Zoned: General Industrial Wednesday 7th March 1984 at 3 p.m. on the property.

Large Industrial Property AIRPORT WEST Mathews Ave (Between King Hawker Streets) Opposite Essendon Airport Land: 5-13 acres 330 ft to Mathews Ave by 700 ft depths in 28 allotments each 50 ft by 166 ft. Two older buildings on the site having area of 40,000 sq.ft. (approx.) Zoned: MMPS "General Industrial" Auctioneers: AUCTION FRIDAY 24TH FEBRUARY 230 RM. 761 M8COE VALE ROAD. GLENROY SGIT OWNER OCCUPIER OR INVESTOR PREMIER POSITION IN SHOPPING CENTRE Zoned Local Business Land: 10 45.7m (33' BuSdngs: CM.

Floor 271.6m2 (2.924 sq. ft) 1st Floor 96.57 (1.039 sq. It) Off street pvtdng. rear entrance to public or park. ILLOUR ASCOT Ltd.

Licensed estate agents, auctioneers valuers ALSO ATeDANDENONG Ph: 791 7300SVDNE Ph: (021 233 4799 424 St Kilda Road, Melbourne, Vic. Australia 3004. For further information and appointments contact: 301-303 LA TROBE STREET. MELBOURNE TELEPHONE: 67 8444 Richard E5s 1818 Paacoe Vate WcL. Gtenroy 3OS0255 438-442 William Street, Melbourne.

329 0666. AH: T. Davis 51 9704 3 61761 684 3335.