Cbus Property or Mirvac will be allowed to build a c$2 billion mixed-use village on outgoing public land described in 2012 by late lord mayor and businessman, Ron Walker, as “Melbourne’s front yard”. The high-profile 1.4 hectare holding being sold by the state government’s VicTrack – to one of two groups left on a shortlist,

Beds, couches, ironing boards, lamps, alarm clocks and several smaller items, left at the Mercure Melbourne Treasury Gardens Hotel, which closed last month, are being donated by the site’s new owner. Cbus Property said its gift to The Salvation Army is anticipated to be one of the largest corporate contributions in Victoria this year. The

Cbus Property has banked $4.25 million selling a modern warehouse built on part of a former General Motors Holden car making plant, in Dandenong South. The deal for 49 Assembly Drive, a fully leased investment tenanted to a food distributor, was struck at $350,000 more than the guide price. Based on the annual rental return,

Sheng Le Group has listed a 1.5 acre Southbank site stretching about half the east side of Queens Bridge Street from Crown Casino to Kings Way. The parcel comprises five properties consolidated between 2014 and 2016 for a total $103 million – about the price expected this time around. Two years ago, City of Melbourne

A Chinese investor is paying $29.1 million for The Village Dandenong shopping centre, in Melbourne’s south east. The off-market deal was brokered by JLL director, Retail Investments, Stuart Taylor and Ming Xuan Li, associate, on behalf of Perth-based RG Property. The result reflects a low 5.19 per cent initial yield (it is six per cent

Daisho has settled on the $220 million purchase of the hotel component within Cbus Property and Industry Superannuation Property Trust’s Collins Arch. The property sale was announced in late 2016. At the same time, Marriott International confirmed it as Melbourne’s first W Hotel (the country’s maiden inn opened in Brisbane two years ago). The complex,

General Motors Holden’s landmark Lang Lang proving ground is being touted off-market. Abutting Bass Highway, 85 kilometres south east of Melbourne – about 10 kilometres from the main township, which is seeing planning change for, and development of, low-density housing – the 877 hectare block is offered with vacant possession from this September. The car

Newmark Capital is paying $121 million for the prominent David Jones menswear store in Melbourne’s Bourke Street Mall. The deal, mooted in early April, follows a public sales campaign launched last December. However a few months earlier, a pre-marketing announcement about the listing was leaked. In both cases, the historic seven level, 11,814 sqm building

Luxcon Developments intends to create a prestige apartment complex out of an East Melbourne building it is picking up off-market for c$30 million opposite Fitzroy Gardens. The nine level B-grade office on the site had been owned by Run Property founder Nathan Cher via Yentaprises Pty Ltd, since 2002. The purchaser is also acquiring it

EXCLUSIVE The Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG) is selling its East Melbourne headquarters to Queensland developer Pask Group. College House, at 254-260 Albert Street, is trading for about $22 million. Opposite Fitzroy Gardens, the RANZCOG site includes a double-storey residence-converted-office, constructed in 1873 – which can’t be razed. However,

Pace Development Group is banking $31.6 million from the sale of a compact office investment it is completing the construction of, in Melbourne’s inner north east Collingwood. The 11-level, 3082 square metre building at 51 Langridge Street found favour with a private investor in his 70s who grew up in the area and has just