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THE parents of pop princesses Kylie and Dannii Minogue are believed to have added a $12.5 million Hawthorn office building to their burgeoning real estate portfolio.
Title Office records show Ron Minogue, an accountant, and wife Carol, a former Welsh dancer, are the mystery buyers of the three-level building under construction at 110 Church Street.
The 2700-square-metre speculative office development, known as Church Hill, was sold by LAS Investments in a deal brokered by Colliers International's eastern office chief executive Rob Joyes and agent Brett Griffith.
The building, due to be finished in December, was sold on an estimated yield of 7.5 per cent based on annual rental of $960,000. It is believed to be the biggest property transaction yet for the Minogue family.
Ron, Carol, son Brendan and daughters Dannii and Kylie are all registered owners of real estate in Melbourne. The family's investment portfolio includes two shops and six apartments in the Maling Road, Canterbury, retail strip, and residential investment properties in Armadale and Richmond.
In 2002 it was speculated that Kylie - one of Australia's most successful musical exports - bought for her parents an unrenovated mansion in Monomeath Avenue, Canterbury, which today is estimated to be worth about $7 million.
The Church Street office building is one of a string of new projects in the undersupplied Boroondara area. Among others are developments by McMullin Group and FKP Property Group in Camberwell, First State in Hawthorn and Benson's Property Group, also in Hawthorn.
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