Real Estate Source

A Rosebud development site, which developer Steller agreed to buy three years ago – but never settled on – is for sale again. The 2.44 hectare parcel at 110 Elizabeth Drive is expected to trade for more than $7.5 million. Also with frontage to Rosebud Avenue, the rectangle shaped block is being targeted to builders.

EXCLUSIVE Premiership footballer Dustin Martin (pictured, top, as part of a Bonds Living campaign), with his manager Ralph Carr, have found a tenant to occupy a recently acquired co-owned commercial investment, in Melbourne’s inner north east Abbotsford. The mixed-use building at 367 Victoria Street (pictured, below) was only offered for rent in June following a

EXCLUSIVE Jason Scillio, a former director of prestige residential real estate agency Kay & Burton, is hoping to break the $17 million price record for a Flinders home. The businessman has listed his 20.2 hectare estate at 160 Musk Creek Road via Sotheby’s Rob Curtain. Unusually, the home and five others share a 55 hectare

EXCLUSIVE Ralph Carr (pictured, right) has finally found a buyer for his Hawthorn mansion. The grand Victorian at 26 Shakespeare Grove (pictured, top) – within one of Melbourne’s most revered precincts, St James Park Estate – has been for sale since April. The sports and entertainment manager paid $7.55 million for the five bedroom house

Dexus today announced it has secured Herbert Smith Freehills as a major tenant at its 80 Collins Street South Tower, a Premium-grade office skyscraper under construction and due for completion in mid-2020. HSF has committed to 10,300 square metres across eight floors (levels 21-28) for a 12-year term commencing on July 1, 2021. It is

Prominent Malaysian developer Aikbee Group is paying $13.75 million for a corner pub with development potential in the Melbourne CBD. Hotel Francis, which is leased to Club Retro until 2021, rises three-storeys at 383-387 Lonsdale Street. The art deco pub occupies a 444 square metre site, also with frontage to Niagara Lane. Colliers International’s David

A Woolworths leased supermarket in Leongatha, in Victoria’s South Gippsland, sold for $14.3 million at CBRE’s 10th Premium Property Portfolio Auction (PPPA) earlier this month. The 3143 square metre building occupies a 3267 sqm site with 142 car parks at 1-7 Peart Street. Returning annual rent of $761,000 the complex traded on low passing yield

Advisory and valuation firm, m3property, has appointed a new chief executive officer. David Martin (pictured, top) will set up at Melbourne’s Bourke Place following a career as chief executive officer with The Buchan Group, which in 2015 established a global alliance with Nikken Sekkei. Grant Jackson – who for the last 10 years has filled

The Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG) is selling its East Melbourne headquarters, opposite Fitzroy Gardens. The two storey structure, built in 1873 at 254-160 Albert Street,is expected to sell for more than $20 million. RANZCOG acquired the property in 1982. Next door, Freemasons Victoria and Mirvac recently teamed to

A landmark farm near Albury-Wodonga has sold in seven tranches for $10.6 million – well over $7 million price hopes. The Rockleigh cattle property aggregation, in the north east Victorian town of Staghorn Flat, covers 443 hectares. Most of the holding has been owned by the Adams family since 1902. With no succession plan, vendors

The mother of prominent criminal lawyer Robert Richter QC is part of a syndicate which this week listed for sale a portfolio of seven apartment blocks scattered across metropolitan Melbourne, and a Northcote warehouse. The investments were built by Mr Richter’s father and uncle – along with another family – between 1976 and 1986. Offered

EXCLUSIVE After a saga he can now put away to the last chapter, restaurateur Julian Gerner has seized control of Sorrento’s landmark Continental Hotel. Furthermore, the businessman has acquired an adjacent block and will re-submit a permit application to replace the amalgamated holding with a $100 million commercial-only project containing offices, a “world class” resort

EXCLUSIVE Austria’s Red Bull – which has the highest market share of any energy drink in the world – is relocating its Victorian headquarters within Port Melbourne. Red Bull will move to a 1008 square metre office/warehouse at 8/331 Ingles Street, part of Dexus’ Citilink Industrial Estate, about two kilometres south west of the city.

Victoria’s Department of Health and Human Services has shortlisted three groups to build the $1.5 billion Footscray Hospital in Melbourne’s west (artist’s impression, top and below). The government last October announced it had chosen to develop the multi-building and multi-level healthcare facility at the south west corner of Ballarat and Geelong roads, opposite Victoria University’s

A Melbourne CBD warehouse converted retail premises owned by the late master jeweller Gary Bradley sold at auction for $4.805 million. The revered artist paid $175,000 for 60 Hardware Lane in 1984. Built in 1872, Mr Bradley occupied the Victorian building as a workshop in the basement and a showroom at ground level. Upstairs was

A Woolworths Metro convenience store at the foot of a modern apartment building, in St Kilda, has sold to a Sydney investor for about $8 million. The supermarket pays annual rent of about $467,000 for the 1574 square metre space at 64 Fitzroy Street. On that basis, the property is trading on c5.8 per cent

Ken Biddick, the exclusive distributor and wholesaler of Converse in Australia and New Zealand, also a real estate investor and horse racing identity, has made another property play – outlaying $25 million for a Cranbourne North medical centre with long term development upside. The Cranbourne Health facility was developed and offered by philanthropist Dr Leon