Ahead of a move to St Kilda Road’s luxurious Lucient building, development giant Lustig-Moar director Iris Lustig-Moar, is selling her penthouse apartment in the iconic Skipping Girl Vinegar Factory in Abbotsford, on the Richmond border.

Melbourne tenants are happy to occupy green buildings – as long as they can flaunt the fact that they do, according to Colliers survey on workplace occupancy trends.

Residents of North Brighton may find they are living in the middle of a construction zone later this year, when prominent local developer Gillon Group and Sydney-based listed property giant Abacus Property Group expect to start building a $38 million shopping centre and office building in Bay Street.

At its meeting today the Board decided to lower the cash rate by 25 basis points to 7.0 per cent, effective 3 September.