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After 16 Years, Reading Group Sells Dilapidated Moonee Ponds Market Site

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Tuesday, 06 August 2013 09:50

AFTER 16 years, a new owner of the Moonee Ponds Market is expected to be announced this week.

A developer is understood to be in advanced negotiations to buy the 1.34 hectare site, opposite the Moonee Ponds train station – for a speculatd $25 million.

US-based Reading bought the block with the intention of replacing it with a major entertainment complex.


Singaporean Developer Pays MAB $25 Million For Docklands Site With 2 x Permits

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Thursday, 01 August 2013 09:08

MAB Corporation has sold a major 3795 square metre Docklands site - a portion of a larger piece it bought from ING five years ago.

The block on Pearl River Road sold for a reported $25 million. MAB paid ING $23 million for the larger piece.

MAB listed the block for sale in May, shortly after lodging plans for two apartment towers of 43 levels (with 244 flats) and 16-levels (with 181 units). It sold the sites with a permit.


Lend Lease Secures 2.5 Hectares of Prime Docklands Land, Melbourne

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Wednesday, 31 July 2013 18:39

MORE than two years after the site was first tendered, state government planning agency Places Victoria (then known as VicUrban, one of various recent name changes) has found a buyer for one of Dockland’s last undeveloped site.

The 2.5 hectare land parcels known as Parcels 5B, 6 and 6A are expected to make way for multiple towers, totalling about $1.5 billion.

The land abut the rear of The Age building, with frontage to Collins Street. It spreads on both sides of Wurundjeri Way and public art project Bunjl, which may be relocated.



Planning Minister Approves $800 Million-Plus Redevelopment of Ex-Age Site, Melbourne

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Wednesday, 30 January 2013 00:00

IT USED to be considered the dankest end of the Melbourne CBD - but now two former industrial sites opposite the Southern Cross train station are to make way for some ten swank skyscrapers accommodating some 5500 apartments.

Yesterday Victorian planning minister Matthew Guy approved an $800 million redevelopment of the former Age newspaper site at 250 Spencer Street.

The proposal – seen in ISPT’s 2012 annual report – seeks to add six skyscrapers and 2994 flats to the block which for years housed The Age newspaper.


IOOF Investment Management Buys $24 Million Industrial Asset, Derrimut

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Monday, 19 November 2012 00:00

IOOF Investment Management Ltd has paid $24 million for a 27,000 square metre industrial facility in Melbourne’s west.

The Derrimut investment is within Australand’s West Park Industrial Estate – a 290 hectare industrial park located fifteen kilometres from town on Boundary Road, abutting the Deer Park Bypass.

Just over a year ago IOOF paid $19 million for another asset in the Australand estate. Other West Park occupants include Mitre 10, Freight Specialists, La-Z-Boy and Bed Bath N’Table.


Historic Burrawang West Expected to Sell For $8.5 Million

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Tuesday, 18 September 2012 00:00

NINETEENTH century station Burrawang West in western New South Wales is for sale and expected to sell for about $8.5 million.

The historic property spread over 5000 hectares on the Lachlan River, about 450 kilometres west of Sydney, was once a wool production operation, in 1884 establishing a then-record for processing 5000 bales.


Challenger Sells 417 St Kilda Road, Melbourne, For $80 Million

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Thursday, 13 September 2012 00:25

INVESTMENT manager Challenger has offloaded a major St Kilda Road tower in an $80 million deal.

The 10-level, 20,000 square metre A-grade office at #417 (pictured, right) has been purchased by syndicate Newmark Property Group, headed by ex Lend Lease and Mirvac executive Chris Langford and Simon Morris, previously director of the Peninsula Development Group.

The sale price represents a high yield of about 9 per cent. For years known as the Mobil building, 417 St Kilda Road includes Oracle and the Red Cross as major tenants.

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