Real Estate Source

Acquisitive Melbourne developer and investor Pelligra Group has snapped up its first hotel investment – also one of the country’s highest profile guesthouses. The leasehold for Holiday Inn Melbourne Airport (pictured, top) was offloaded by Britain’s InterContinental Hotel Group. Pelligra and IHG in late 2017 formed an alliance to co-develop other Melbourne accommodation venues: one

Sydney based Yeh Hotel Group has made its first Melbourne acquisition – an interest in the budget Ibis Little Bourke Street, previously known as Ibis Accor Hotel and before that, All Seasons Paragon. The 10-level complex has been re-branded, again, to Melbourne Hotel CBD. The off-market deal includes a conference room, restaurant, bar, meeting facilities

GPT Group has struck two major industrial lease deals for its Gateway Logistics Hub in Melbourne’s west Truganina. In the biggest deal, Godfrey Hirst – Australia’s largest manufacturer and exporter of residential and commercial carpets – has taken 14,406 square metres for an initial seven year term. The space, known as Warehouse 1, fills just

After six months, retired AFL sportsman Chris Tarrant and his wife, Lauren, an interior designer, have flipped another renovated Toorak home. The property, 17 Glen Road, is the pair’s sixth refurbishment project. It carried a price guide of $4.9-$5.2 million when it was listed. The couple paid $3.665 million in May, 2018. The former sportsman

Western Bulldogs defender Jackson Trengove and his wife, Stephanie, are selling a clinker brick family sized home in old Strathmore – one of north-west Melbourne’s most exclusive pockets. Built in the 1950s and retaining original features – including a crazy-slate clad fireplace – 21 Collegian Avenue carries a guide price of $1.65-$1.75 million. The pair

Bonyan Real Estate is paying $6.35 million for a residential development site in Melbourne’s exclusive Kooyong. RT Edgar’s Mark Wridgway and Justine Harris brokered the deal for 709 and 711-713 Toorak Road on a (short) 21 day settlement for the mortgagee vendor. The 2198 square metre battle-axe shaped site has 33 metres of frontage to

Telstra has listed land behind a Box Hill telephone exchange after a reported $7.05 million sale in January, 2018, fell through. The 930 square metre site within Box Hill Activity Centre is a block, or about 150 metres, from the suburb’s train station and Whitehorse Road commercial strip. Box Hill is 14 kilometres east of

Dexus and Singapore sovereign wealth fund Government Investment Corporation are paying Kuwait’s St Martins Property $644 million for a half share of the Rialto Melbourne complex. The incoming owners will co-control 525 Collins Street with Grollo Group, which is directed by Lorenz Grollo, son of owner, Rino. St Martins – also a sovereign wealth fund

An unrenovated two storey shopping centre at the middle of a popular retail strip in Melbourne’s inner north Brunswick has sold to Aesop founder Dennis Paphitis, a local, and ACT builder Molonglo Group, for $17 million following an off-market campaign. The sale of Brunswick Market comes nine weeks after we reported Stockland outlaid $15 million

Anne Kantor AO, daughter of late publishing identity Sir Keith Murdoch and, Dame Elisabeth, his wife, has sold another spectacularly located Melbourne retail strip shop investment. The double fronted double storey building, 735-737 Burke Road, Camberwell, traded for $12.06 million following an expressions of interest campaign which closed on Thursday. When Fitzroys agents Chris James

An office leased to the Morrison and Andrews governments in Victoria’s regional Hamilton sold for $6.75 million on Thursday. When the investment at 258-264 Gray Street was listed five weeks ago, it formed part of Burgess Rawson’s 135th monthly auction event which was scheduled to happen on Wednesday, April 1 in Sydney then Melbourne. Instead,

Two Mulgrave offices – listed in the same week in early February – traded over the last 10 days of March. Separate buyers acquired the assets – offered by different vendors and marketed by two agencies. In the largest and most recent deal, 362 Wellington Road – the former headquarters of car parts retailer Repco

The Coburg North processing plant occupied for some 60 years by smallgoods supplier Tibaldi is for lease. Covering both sides of Lens Street, and also with frontage to Charles Street, the landmark holding is being offered in part or as a whole. It includes buildings with a total area of 7566 square metres configured with

David Jones is reportedly close to selling its landmark Bourke Street Mall menswear store in the Melbourne CBD. The mooted $120 million price is far less than the $150 million guide attached to the property when it was first speculated to be for sale last year. A public sale campaign was launched last December. According

EXCLUSIVE The Department of Transport is renting two new offices in and around Melbourne’s Ringwood. Both premises will accommodate VicRoads staff relocating from that group’s Kew headquarters and the Tally Ho business park, in East Burwood. The lease agreements follow a government restructure implemented last July which merged VicRoads and Public Transport Victoria into a

Japara Healthcare has banked $13.38 million selling a Springvale aged care complex with a leaseback. The price for Japara Springvale Aged Care Facility at 340-344 Springvale Road was well over the c$11.5 million guide attached upon listing in February. Net of costs, the result equates to a 5.6 per cent yield for the ASX-listed vendor.