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25 November 2016

Light House Progress Update

Construction on Light House continues to progress on program with the following updates as of 25 November 2016:

  • Structural core has been completed to Level 58.
  • Concrete pours to Level 56.
  • Glass and metal façade to Level 52 has been completed.
  • Joinery installed to Level 40.
  • Defecting completed to Level 27.

24 October 2016

Light House – Progress Update

Construction on Light House has made rapid progress this past month with the following updates as of 24 October 2016:

  • Structural core has been completed to Level 52.
  • Concrete pours to Level 50 .
  • Glass and metal façade to Level 45 has been completed.
  • Joinery installed to Level 35.
  • Defecting completed to Level 20.

22 September 2016

Light House – Progress Update

Construction on Light House has made rapid progress this past month with the following updates as of 22 September 2016:

  • Structural core has been completed to Level 46.
  • Concrete pours of levels o 43.
  • Glass and metal façade to Level 37 has been completed.
  • Joinery installed to level 26.
  • Defecting completed to Level 14.

8 June 2016

Light House – Progress Update

Construction of Light House Tower is progressing at a rapid speed with the following updates as of 8th June 2016:

  • Structural core has been completed to Level 25
  • Concrete pours of levels to Level 22
  • Glass and metal façade to Level 19 has been completed.
  • Joinery installed to level 10
  • Amenities level (pool/gym/other) beginning final finishes

29 April 2016

Light House – Progress Update

We are pleased to report that construction progressed well in April on Lighthouse Tower with the following updates:

  • Concrete pour of levels to Level 17 as of 13/05
  • Core walls have reached level 19
  • Glass and metal façade has reached level 13
  • Form work has been stripped in key areas including amenities and pool located on level 8
  • Level 3, 4 & 5 installation of joinery and final finishes

30 March 2016

Light House – Progress Update

With construction commencing in February 2015, Lighthouse Tower, 450 Elizabeth Street is currently advancing at a healthy pace with Level 11 poured and facades up to Level 6 now completed. Core is finished to Level 14.

  • Level 9 pool slab poured
  • Façade complete to Level 6
  • Core complete to Level 14
  • Finishes Level 2 – Level 5 (in progress)

21 April 2015

Chinese developer Hengyi snaps up massive Melbourne site

Giant Chinese property developer Hengyi has emerged as the buyer for a massive development project on the edge of the Melbourne CBD, which has a permit for more than 1000 apartments.

Hengyi, which is a subsidiary of Shandong HYI Group, a powerful player in China’s Shandong province, has significant exposure through two other residential projects in the Melbourne CBD.

The Chinese group acquired the site at 170 Victoria Street from listed Singaporean developer Chip Eng Seng for $64.8 million last month.

The deal attracted considerable attention in the market. The Singaporean seller doubled its money in just two years after gaining a planning permit under the previous state government.

A hiatus in the approval of planning permits after the change of government and market uncertainty over how readily new Planning Minister Richard Wynne will dispense permits have added a premium to good sites with permits.

Chip Eng Seng acquired the corner site – a 2927-square-metre parcel of the former Carlton & United brewery – from Grocon only two years ago for $32 million.

Through its Australian subsidiary, CES Victoria, the Singaporeans won approval for a 72-storey Elenberg Fraser-designed tower comprising 1035 apartments.

The transaction is thought to have set a record for the Carlton area, just north of the CBD, with a land rate of just over $22,000 per square metre.

It was handled by Colliers International’s Trent Hobart and Bryson Cameron, who were not available for comment.

Hengyi, which also declined to comment, is embarking on a 607-apartment project in Elizabeth Street called the Light House. Nearby, it has redeveloped two neighbouring towers in William Street into residential accommodation.

 

5 December 2014

New hotel in William St: Falling Australian currency lures travellers

THE world’s biggest hotel group hopes that the falling Aussie dollar will lure more overseas visitors to Melbourne.

A former derelict building in William St has become the Wyndham group’s first hotel site in Melbourne under a $200 million redevelopment.

It also includes a new holiday concept for the city — special vacation units that are available for hire by club members around the world.

Wyndham Vacation Resorts Asia Pacific managing director Barry Robinson said the units were self-catering and had features such as juice machines and proper knife sets.

Mr Robinson said Wyndham had about one million vacation unit members in the US and he hoped the falling dollar would encourage many of them to visit Australia.

“With the currency weakening again, people are starting to travel down from the US and Europe and finding that our destination is becoming more affordable,” he said.

Wyndham, which has more than 7500 hotels worldwide, also uses the brand name Ramada. The 23-storey Melbourne building, on the corner of William and Lt Bourke streets, also includes a rooftop pool, gym, residential apartments, shops and office space.

It was developed by Hengyi Australia, which paid $45 million for the site in 2010.

By JOHN MASANAUSKAS