A consortium of five cashed-up, China-based investors are believed to have made their first foray into Australia's property market, beating local and international developers for a prime city-fringe development site sold by the State Government.

London-based "bar tsar" Jonathan Downey will open the doors of his sexy, sultry Match Bar this weekend, after a costly, lengthy and opulent fit-out.

An underutilised property on the doorstep of Bourke Street Mall, opposite the GPO, is expected to reap about $25 million for MAB Funds Management, which has decided to sell the asset after six years.

Grocon says state-of-the-art urinals installed last year at its BHP Billiton and Sensis office buildings at QV have resulted in a 14% reduction in water consumption.