Another Steller site now controlled by a mortgagee is for sale – this time in Melbourne’s northern suburb of Preston. The 1.83 hectare block at 22 Wood Street is adjacent to the Northland Shopping Centre, owned by GPT Group and Vicinity Centres. It’s eastern boundary abuts parkland around Darebin Creek – which is also the

A string of sites once controlled by failed developer Steller have been listed for sale in recent weeks by receivers. In the south east Melbourne suburb of Cheltenham, a 1371 square metre corner site covering 9-21 Station Road and 23 and 23A Station Road, is the latest. The holding is configured with seven strata titled

A cleared Richmond block of land, which failed developer Steller won approval to replace with a mixed-use complex containing offices and apartments, was listed for sale this week. The holding (pictured, top) is one of seven being put to the market by administrator McGrathNicol, representing Asian financier OCP which is said to be owed more

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.

Another site controlled by failed developer Steller has hit the market. The St Kilda block at 1 Brighton Road accommodated the Greyhound Hotel (pictured bottom, right), which was razed two years ago, after standing 164 years. Steller acquired the 911 square metre parcel for $7.5 million in late 2017. The site came with a permit

A landmark Rosebud property acquired by failed developer Steller for $7 million in 2016 has been sold at a loss. A Mortgagee in Possession auction for 310-330 Jetty Road this week recovered $4.65 million. The 22.3 hectare parcel with three residences, including a sprawling eight bedroom homestead, also offers a helipad and the infrastructure (barn,

EXCLUSIVE The City of Glen Eira has rented all of the Caulfield East office recently vacated by failed developer, Steller. The double-storey building at 840 Dandenong Road is owned by the Zagame family, of hospitality fame. Colliers International launched a leasing campaign in June – about two weeks before Steller was put into receivership. Steller

Aged care accommodation provider Ryman Healthcare has acquired its 11th Melbourne site in five years. The listed New Zealand based company is paying failed developer Steller $28.5 million for the 1.2 hectare block in Highett (pictured, below), about 16 kilometres south-east of the city centre. Steller paid $20 million for the site in two tranches

EXCLUSIVE A Balaclava patch of dirt controlled by local developer Steller, which went into receivership last month, has sold for a speculated price of close to $2 million. The site (pictured, outlined, top) last traded for $2.375 million in August 2017 – about a month before the peak of Melbourne’s last property cycle. At 60-62

EXCLUSIVE Steller’s Caulfield East headquarters is for rent. The developer, which is winding down in high-profile circumstances, only recently moved into the newly renovated office at 840 Dandenong Road, after signing a long-term lease. The curved, glass building, owned by the Zagame family, was previously occupied by Glenvill Homes. Steller rented it following this Colliers

EXCLUSIVE Steller has sold an office investment in Highett, about 16 kilometres south-east of the Melbourne CBD. The two-storey building at 260-264 Highett Road traded for $3.375 million following a campaign managed by Gross Waddell’s Alex Ham and Andrew Greenway, who both declined to comment. Based on the complex’s annual rental return, the deal is

While executives winding down the troubled Steller business return calls to the agents who are marketing their properties for sale – it appears they are putting off correspondence from others, who they owe money to. Steller has vacated a Moorabbin warehouse just six months into its lease and is not communicating with the property manager,

EXCLUSIVE Another day and another development site controlled by troubled builder Steller is for sale. This time in East Keilor – metres from the Essendon border – a hillside block overlooking Steele Creek is expected to trade for between $7.3 million and $8 million. Steller applied, but had not yet received permission, to build 47

EXCLUSIVE One of Melbourne’s newest and fastest growing privately-held developers is suffering a fall-from-grace – and substantially revising its building strategy. Steller, directed by Nicholas Smedley (pictured, top), the son of ex-Spotless and Arrium chairman Peter Smedley – who died last month, is understood to be experiencing construction funding woes, with developments across the board

Developer Steller will retain a controversial St Kilda block it listed for sale last month. The site of the former Greyhound Hotel at 1 Brighton Road was expected to sell for more than $8 million. Steller, directed by Nicholas Smedley, paid $7.5 million for the 911 square metre parcel last October. Just prior to the

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

Sorrento’s Continental Hotel is selling for about $21 million, according to industry sources. The historic site – currently a construction zone after an $80 million refurbishment and extension was suspended before Easter – is trading to a developer “with more than three decades of experience”. The deal marks the end of one big headache for