Latest News
You are here: Home > Real Estate News > Victoria

Category Archives: Victoria

Feed Subscription

Victorian Real Estate News
Real estate and investment news for Victoria
We publish independent, daily news for the Victorian property and real estate industry. Our features and news cover commercial, industrial and residential property, as well as investment.We dig deep to get the latest breaking news and facts, so to stay up to date, subscribe to our site, or visit the Victorian news section regularly.

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

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 houses The Age newspaper.
Read More »

IOOF Investment Management Buys $24 Million Industrial Asset, Derrimut

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.
Read More »

Administrators to Recover Just Half of Mowbray’s Debts From Campus Sales

mowbray melton

ADMINSTRATORS for defunct western suburb private college Mowbray are likely to recover just half of the school’s $18 million debts from the sale of its three campuses alone.

In what is described as a complicated sale campaign in which value will depend on potential land usage and in particular if the sites can be rebuilt as residential projects – the three school campuses are speculated to be worth a total of about $9 million.

The largest school – the 17.75 hectare Patterson campus in Melton is expected to sell for about $6 million, according to sources. Two smaller campuses in Caroline Springs, including the 1.25 hectare Residential 1 zoned Town Centre Campus at 183-191 Caroline Springs Boulevard, and the 1.06 hectare Brookfield campus at 5 Stevenson Crescent are expected to each reap about $1.5 million.

Read More »

Iconic Campari Restaurant For Sale, Melbourne

campari rooftop

THE Dubai-based investors who in 2009 paid about $4.8 million for landmark city restaurant Campari, are relisting the asset for sale.

The renovated 800 square metre, four-level retail space at 23-25 Hardware Lane opened as Campari in 1968 but closed for a period before opening again in August 2009.

The vendors purchased the site from restaurateur Nick Zampelis, who paid $1.46 million for it in 2000. Mr Zampelis operated from the premises for a couple of years before leasing it to other occupiers. The current tenants, Australian Pacific Hospitality Management are behind other local dining institutions including Scusa Mi in Southbank.
Read More »

Prominent Fitzroy Site Set to Become Major Mixed Use Village, Melbourne

dogs breakfast fitzroy

A SUPERSIZED block in bohemian Fitzroy is expected to make way for an $80 million-plus mixed use development after selling off-market to a developer.

On the north-east corner of Johnston and Gore streets, the 2122 square metre site sold for more than $8 million reflecting a land rate per square of some $4000.

Close to the corner of the Smith Street retail strip the former warehouse at 239-247 Johnston Street have been occupied in recent years by retail users including homewares and replica furniture store, The Dogs Breakfast Trading Company.
Read More »

International Entertainment Giant Told to Sell Prominent Former Moonee Ponds Market Site, Melbourne

reading cinema logo

MOONEE Valley City Council has demanded international entertainment giant Reading Cinema sell a prime piece of Moonee Ponds land after it “wasted a one in 100 year building boom”.

The former Moonee Ponds Market in Hall Street, now an open air car park, was permitted in the mid-1990s to become a major $40 million cinema-based complex and shopping centre. So big was the proposal, rival Hoyts which manages cinemas at the nearby Highpoint Shopping Centre, challenged in court to halt the development.
Read More »

FKP Opens Up Prominent Melbourne CBD Corner

399 lonsdale street

QUEENSLAND born, Sydney based property developer and investor FKP has opened up the ground retail level of a CBD office building occupying the prominent south-west corner of Lonsdale Street and Hardware Lane.

After being used as a non-retail break-out area by students at Taylors College for years, the 280 square metre space, formerly identified in the street by its dark tinted window-film, has been sub-leased to a unique new business which hopes to make an impact on Hardware Lane, considered one of the city’s highest character strips.
Read More »

Victorian State Government Reaps $16 Million From Education Sites

kangan gwynne street richmond

AS TEACHERS and the cashed-up education unions bully for more pay, the cash-strapped Baillieu government has been forced to sell two prime assets including the landmark former Kangan TAFE in Gwynne Street Richmond, expected to one day make way for a  $200-million plus mixed use village.

In a busy week for school sales and listings, the state has reaped $9.25 million for the 7637 square metre inner-east site which will cease operating as a Kangan next March.

The Business 1 zoned property (aerial pic, right) is heralded as the largest commercial development site to sell in Melbourne this year measured by value – but it’s estimated the property could have been worth more than $20 million should it have sold with a more flexible zoning allowing for residential redevelopment.
Read More »

Outgoing Foxtel Studios For Lease, South Melbourne

former foxsports building south melbourne

ANOTHER media company is shuffling its Melbourne offices.

This time in the city fringe, Foxtel is leaving its 10-year home at 47 City Road, Southbank and relocating to part of the former Channel Seven headquarters at the north-west corner of Dodds and Dorcas streets in South Melbourne.

Channel Seven, like rival Nine, have relocated many production functions to Docklands. Its former Dorcas Street headquarters is being part being developed as an apartment village.
Read More »

Scroll To Top