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Northcote Aged Care Facility to be Sold

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Saturday, 06 August 2011 00:48

ANOTHER religious based group is disposing a prime located suburban asset, which is likely to be redeveloped as flats.

This time, in Northcote, Churches of Christ Community Care is selling the former Fred Combridge House aged facility at 1A Campbell Grove, and high on Ruckers Hill (aerial image, right).

The former 30-bed facility is spread across a 2712 square metre site, and, according to Fitzroys selling agents Charles Emmett and Geoff Emmett, is expected to arouse developer interest and sell for between $5 million - $5.5 million, reflecting a rate per square metre of land, of approximately $1850 - $2000.

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Charter Hall to Sell 150 Queen Street Office, Melbourne, at a Loss

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Monday, 08 August 2011 00:00

SYDNEY-based fund manager Charter Hall can expect some $25 million from the sale of a Melbourne CBD office it bought for $32 million in September 2007 – just weeks before the last commercial property market peak.

A spokeswoman said the Charter Hall Core Office Fund will use moneys from the sale to invest in larger, prime opportunities.

The asset on offer at 150 Queen Street (pictured, right), on the corner of Bourke Street, was developed in the 1960s and known for years as the Prudential Building.

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Orchard to Sell Gold Coast's Chevron Renaissance Shopping Centre

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Friday, 05 August 2011 00:00

GOLD Coast’s Chevron Renaissance Shopping Centre (pictured, right) has been listed for sale.

The complex is expected to sell for about $79 million which would reflect a yield of about 9 per cent.

The 13,076 square metre centre has parking for 300 cars. It’s anchored by a Coles supermarket and two mini majors and also has space for 50 specialty stores. It also includes 18 office suites.

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Topshop Leases Sydney's Iconic Gowings Building

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Thursday, 04 August 2011 00:00

UK retail giant Topshop will open its first Australian store at Sydney’s high profile Gowings Building (pictured, right).

The building, at the corner of George and Market streets, was reportedly eyed off by Spanish clothing retailer Zara, which instead chose the Westfield shopping centre nearby.

Topshop is a popular online clothing retailer, and also operates from about 20 countries. Its flagship is in London’s Oxford Street.

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Charter Hall Disposes of $34.65 Million in Assets

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Wednesday, 03 August 2011 05:00

CHARTER Hall today announced its Diversified Property Fund (DPF) has contracted to sell Spinifex House at 46 – 50 Kings Park Road (pictured, right), West Perth to a private syndicator for $28.25 million, or $6900 per square metre.

The sale price reflects a premium price of 6.3 per cent to the assets June 30, 2011 value.

Charter Hall has also sold a smaller office building at 22 – 28 Compark Circuit, in the south-east Melbourne suburb of Mulgrave. This asset sold for $6.4 million to an owner occupier.

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Google Updates its Australian Street View Images

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Wednesday, 03 August 2011 00:00

ONLINE real estate voyeurs may notice Australia’s capital cities looking greener, cleaner and generally more attractive.

After some 18 months touring roads in cars with roof-mounted cameras, and then blurring the scenes it recorded for privacy, internet-based business Google this week replaced much of the Australian imagery it uses for its Maps and Street View technologies (a UK Google Street image capturing a drunk man, pictured, right).

Google’s much anticipated upgrade – the first major improvement to the Street View service introduced here in August 2008 – affects capital cities, coast and country towns.

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Supersized North Melbourne Development Site Expected to Fetch $8 Million

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Tuesday, 02 August 2011 00:43

A SUPERSIZED North Melbourne development site, opposite two small parks and capable of accommodating a landmark skyscraper, has hit the market and is expected to sell for about $8 million.

The 3555 square metre property at 181 – 189 Capel Street (aerial image, right) currently includes a large warehouse constructed in the 1960s and which is tenanted by AAMI as an insurance assessment centre. An adjoining small warehouse is occupied by another tenant. Combined the assets return $528,634 in annual rent but AAMI will vacate soon.

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