EXCLUSIVE In major Melbourne commercial property industry news, CBRE and one its highest profile and biggest billing agents, Mark Wizel,Read more
Two supermarket backed investments have sold for a total of $52.45 million. In the biggest deal, DeGroup is paying $33.3Read more
Hudson Conway founder and five-time Melbourne Cup horse winning trainer, Lloyd Williams, has listed his landmark Macedon Lodge training facilityRead more
Carlton Football Club president and property investor Mark Lo Giudice has sold the Gisborne Square retail complex in Melbourne’s outerRead more
A historic Art Deco building owned for 63 years until 2011 by members of the wealthy Lechte family is forRead more
EXCLUSIVE Stockland has sold shopping centre Tooronga Village, in Melbourne’s Glen Iris, for a speculated price of about $64 million.Read more
High profile investors have offloaded two Woolworths-leased supermarkets in Melbourne for a total of $33.29 million. In the largest deal,Read more
A PROMINENT Camberwell development site opposite the suburb’s Town Hall and until recently earmarked to become a $50 million office building, has sold for $7.7 million to residential developer, Trenerry Property Group.
The site at 347 Camberwell Road, north-west of the busy Camberwell Junction, sold with a permit for a four-level, 8277 square metre office.
However given the recent success apartment projects in the area recently, including Aerial at the Camberwell Junction, the vendor, local developer CGA Bryson, was pursuing another permit for a residential based project with just 1000 square metres of office space, and 112 flats.Read more
AN OWNER-occupier that controls a massive 4287 square metre property opposite the South Melbourne Market has publicly listed it for sale.
The Novak Prestige Motor Works site at the north-west corner of York and Cecil streets, in South Melbourne (aerial, right), is an amalgamation of several adjoining properties. Panel beater and painter Novak purchased the first site in 1965, acquiring another seven over a 45-year period.
Effectively a development site, and being offered with an extended settlement, the property is expected to arouse interest from builders, or land bankers which may onsell all or part of it at a more buoyant time of the market, possibly with permits.Read more
Macquarie Countrywide is expected to reap around $100 million from the portfolio sale of ten supermarket assets around Australia.Read more
A BUNNINGS trust has sold a prominent Hoppers Crossing warehouse to a local private investor for $14.6 million.
Based on the $1.23 million annual rent the Bunnings store pays, the 2.7-hectare site, with a 8500 square metre warehouse and 310 car park bays, sold on a yield of 8.45 per cent.
Bunnings is committed to 163-169 Old Geelong Road until March 2020, when it will reportedly relocate to an as yet unbuilt warehouse nearby.
According to CBRE selling agent Justin Dowers, who marketed the asset with Mark Wizel, new Bunnings stores including those in Vermont South and in Mentone (which is nearing construction), at between 16,000 and 18,000 square metres, are about twice the size of the Hoppers Crossing store.Read more
ASIAN Pacific Building Corporation has pocketed $12.5 million from the sale of nine city shops, at the ground floor of the Oaks on Collins serviced office and serviced apartment building, at 480 Collins Street.
Only two of the retail investments had frontage to Collins Street, both of which are leased to Oaks.
The remaining shops – basically trading as a drinking, dining and food hall – sold individually to private investors, according to CB Richard Ellis selling agents Mark Wizel, Sebastian Drapac and Max Cookes.Read more
Developer Caydon Property has agreed to pay Vision Australia $21 million for a Prahran site with a permit for a major apartment complex.
Vision Australia had agreed to sell the property, and another development site behind it about two years ago, however that deal did not proceed.
The front piece of land, which has just sold, is expected to be developed into a 330 unit apartment complex with ten ground floor shops, according to CBRE’s Mark Wizel and Andrew Dawkins, who marketed the site.Read more
Spiritgrow Josef Kryss Centre will build a meditation space and community hall on the site of a Caulfield North officeRead more
Newmark Capital is paying $121 million for the prominent David Jones menswear store in Melbourne’s Bourke Street Mall. The deal,Read more
Collective Capital has spent c$20 million on a low-rise office on a big block in central Frankston – a baysideRead more
One of three West Melbourne properties until recently earmarked to form part of a mixed-use office and hotel complex hasRead more
A trio of Melbourne businessman have shelved plans to build a hotel at the Melbourne CBD’s north west tip followingRead more
Jeff Xu’s Golden Age Group has paid about $23 million for a 1.65 hectare residential development site in Melbourne’s southRead more
Woolworths has sold a near-new neighbourhood shopping centre in Melbourne’s south east Keysborough to a local investor for $33.13 million.Read more
David Jones is close to selling its landmark Bourke Street Mall menswear store in the Melbourne CBD. The $121 millionRead more
CostaFox is paying $28 million for one of Melbourne’s most distinctive commercial properties – The Tea House, at 28 ClarendonRead more
JP Morgan Asset Management is selling its St Collins Lane shopping centre after less than four years. The Melbourne CBDRead more
EXCLUSIVE Bunnings has found a buyer for a four month old outlet in Melbourne’s outer south east. The hardware retailerRead more
EXCLUSIVE A double fronted two storey terrace within cooee of Bourke Street Mall is selling for $22.5 million. The dealRead more
Two former government schools in Melbourne’s south east have sold to developers in separate deals this month. In what mayRead more
Melbourne-based specialist retail investor and developer Lascorp is paying Charter Hall Retail Management Limited, as responsible entity for Charter HallRead more
The University of Melbourne outbid 17 groups – a mix including private and institutional heavyweights – to acquire two neighbouringRead more
Caltex – whose management last week rejected a takeover bid from Quebec’s Alimentation Couche-Tard believing the $34.50 per share offerRead more
Pace Development Group is banking $31.6 million from the sale of a compact office investment it is completing the constructionRead more