Steller receivers sell Parkdale hospital to tenant for $10.2 million

EXCLUSIVE In an unusual deal, Calvary Health Care Bethlehem has snapped up a Parkdale hospital it only recently agreed to rent temporarily. The healthcare service and accommodation provider is paying $10.2 million for 152 Como Parade West, about 20 kilometres south of the Melbourne CBD. Formerly owner occupied by Healthscope, which was the client selling

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Steller receivers sell Caulfield South childcare centre site mid-construction

Steller receivers have sold a high-profile corner site in Caulfield South, permit-ready for a state-of-the-art childcare centre. The 1328 square metre holding comprising 1036 Glen Huntly Road and 1A Laura Street is trading for $4.71 million. Steller paid $4.3 million for what was two neighbouring standalone homes last year, before pushing through the redevelopment application.

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Steller receiver banks c$6.5 million from site earmarked for Frankston’s tallest tower

EXCLUSIVE McGrathNicol has sold a high-profile Frankston development site until recently controlled by Steller, which went into receivership in July. The 3301 square metre plot at 6-12 Davey Street – just over a hundred metres from the beach – was between 2014 and 2018 set to make way for a 17-storey apartment building, which would

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City of Glen Eira rents Zagame family office recently vacated by failed developer Steller

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

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Steller goes into receivership

Singapore and Hong Kong based hedge fund OCP Asia has called in receivers McGrathNicol Restructuring to recover money from Melbourne developer Steller Group. OCP Asia has lent approximately $120 million to the builder. According to various reports, OCP Asia will support and perhaps even provide additional funding for some of the projects it controls, including

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Steller’s Caulfield East HQ for rent “immediately”

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

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