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APBC Reaps $12.5 Million From 480 Collins Street Shops

Asian Pacific Building Corporation, headed by establishment family the Deagues, can expect to make another $12 million from the sale of ten shops, as part of its 1 Queens Road strata office building.

The Deagues paid $11.8 million for that building in 2000, before extending it, and filling it with shops at ground level, apartments up top, and offices in between.

Those with longer memories may remember 1 Queens Road when it was known as the Tabcorp building, and before that, the Racing Industry Building.

About Marc Pallisco

Marc is a leading Real Estate freelance writer, author and analyst. He is also the founder for Realestatesource.com.au and is also employed as lead property writer for The Age. He currently resides in Melbourne, Victoria.

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