This stage of the new community, currently known as Richmond Malt, will offer 277 dwellings, a small shopping centre with a supermarket, a multi-storey car park with 366-bays, a micro-brewery and public open spaces including a piazza and theatre.

The proposal covers 2128 square metres of the 1.1-hectare site Caydon bought for $38 million last year.

Combined with the adjoining Beaver Plastics factory Russo has owned for years, Caydon's combined Cremorne holding is nearly 1.7 hectares. In June, Caydon applied to replace the Beaver site with a 16-level, 271-unit apartment complex, replacing plans for a 12-level office.

Historic structures on the silo site include brick buildings and the Nylex clock – but not the prominent grain stores to which the timepiece is affixed. The silos will be demolished to make way for 20-plus level apartment towers with a working clock re-attached to the top of one of the new buildings (so at least 50 metres higher than it is at the moment).

Docklands turns 20

Docklands was unveiled 20 years ago – the master-plan made public on August 28, 1995.

The multibillion-dollar, high density village, was valued at "more than $2 billion" at the time. It is now quoted with an end-value approaching $100 billion and has expanded to include precincts not part of the original plan, like the Southern Cross area, where The Age offices are, and where Lendlease will soon build on airspace above Wurundjeri Way.

Jones Lang LaSalle's David Bowden was appointed by the then premier Jeff Kennett in 1993 to undertake an international study designed to attract residential and commercial office occupants to Melbourne's Victoria Harbour.

The state government was dealing with a crashed economy following a series of disasters under the previous ALP administration including the collapse of the State Bank and Pyramid, in 1990.

Mr Bowden said Docklands has now exceeded expectations, with both commercial and residential occupants paying substantial sums to buy in.

Docklands now has nearly 800,000 square metres of office space, some 17 per cent of the overall CBD, according to Mr Bowden, who said the advent of low-rise "campus style" workplaces 20 years ago was a "godsend" for Melbourne.

"How many cities the size of Melbourne suddenly had 180 hectares abutting infrastructure that can deliver a product the market decides it wants?"

Major banks ANZ and NAB are now headquartered in low-rise offices at Docklands.

Mr Bowden said initial Docklands plans would have seen the city grid end at Spencer Street. Instead, Collins and Bourke streets were extended, with only a handful of sites on both streets not yet developed.

Donovan buys Town Hall Hotel

Local chef Sean Donovan has acquired Fitzroy's Town Hall Hotel.

The leasehold was offloaded by another Melbourne chef, Harry Lilai, who owned it for five years.

About a kilometre north of town, near Johnston Street, the recently refurbished hotel includes a public bar, two dining rooms, two function rooms, two commercial kitchens and a converted cellar.

Donovan will move to Fitzroy after recently selling two pubs – the Wayside Inn in South Melbourne and the Station Hotel in Footscray – to the Dixon Hospitality Group.

The Town Hall, Wayside Inn and Station Hotel leasehold sales were all managed by Colliers International's Pat Connolly and Will Connolly.

Donovan is expected to turn the venue back into "more of a fair dinkum pub". He said: "I think the pub needs to be a place where you can walk in from the street and get a beer, so I hope to take the Town Hall back closer to its roots."

Lilai plans to buy or establish a cafe closer to his home, in Melbourne's west.

RSL & Grocon Unite at Williamstown

The Returned Services League has accepted an olive branch from developer Grocon to rescue a prominent community facility in Williamstown.

If accepted by RSL members, the group will team with Grocon to replace 128 Ferguson Street, on the north-west corner of Melbourne Road.

A six level mixed-use building containing 68 flats has been proposed for the parcel. The RSL would occupy the lower level of the project and use proceeds from selling the airspace to repay part of a $2.6 million debt the branch has accrued.

The proposed co-development with Grocon will also leave the RSL more than $1 million to invest in a new Williamstown fit-out.

Any deal would continue a trend of community providers teaming with wealthy developers to replace prime sites, and pocket some profit.

Last year, Little Property Group negotiated with Freemasons Victoria to replace two suburban Masonic Centres with medium-density residential projects.

North site buyers revealed

Fortius and Metier3 – a high-end architect and interior design practice – are the mystery buyers of an approximately 1200-square-metre development site on the Haymarket roundabout that was revealed as selling last week for more than $22 million.

The consortium is expected to replace the collection of low-rise buildings with a landmark tower. The parcel includes blocks once owned by entrepreneurs Dean Giannarelli and after that, Mario Salvo.

Opposite the Victorian Comprehensive Cancer Centre, which is under construction, the North Melbourne development site was marketed by Vinci Carbone.

City Road sale imminent

A site in City Road, Southbank, with wealthy neighbours to each side – is understood to be close to sale for a speculated price of more than $15 million.

The 910-square-metre parcel covering 63-69 City Road includes two low-rise offices. The property was listed for sale a month ago in a campaign which touted the precinct's airspace redevelopment potential.

Opposite the 92-level Eureka building, the City Road site is next door to a 38-level apartment building, Opus Tower, currently being developed by Larry Kestelman's LK Property Group.

Central Equity is also a neighbour after recently buying a collection of properties between 71-87 City Road, which are expected to make way for skyscrapers in the medium term.

Fitzroys agents Michael Ryan and James Gregson marketed 63-69 City Road but declined to comment.

Email: marcpallisco@gmail.com

Twitter: @marcpallisco