Alta swoops on Albert Park Lake site
Alta Property, led by ex-Fridcorp co-owner and joint chief executive officer, Nigel Givoni, has swooped on an inner-city office with plans for residential conversion.
Ten Queens Road, Melbourne – actually three kilometres south of the CBD with the postcode 3004 – is trading for $27 million.
Receivers for Taiwan backed Everland Global listed the asset late last yar.
Everland paid Larry Kestleman $59m for the 19 level, 8815 square metre property in 2019.
There is an additional 159-bay basement car park.
The site spreads 2023 sqm opposite Albert Park Lake.
Cushman & Wakefield’s Oliver Hay, Daniel Wolman and Leon Ma with Colliers’ Jozef Dickinson, Alex Browne and Aaron Choong were the agents (story continues below).
Resi repurpose planned
Alta is planning a build-to-sell apartment conversion.
Factoring in Fridcorp projects, as it does on its website, the builder’s portfolio includes – in South Yarra, where it is headquartered, an apartment complex on an ex-Lamborghini dealership at the top of Chapel Street, and the Lilli tower, nearby.
In 2010, the group completed a 286-unit development in Dorcas Street, South Melbourne. It was also behind a boutique low rise project in Herbert Street, Elwood, opposite St Kilda Botanical Gardens.
In New South Wales, Alta has constructed residential complexes in Erskineville and Hurstville.
Subscribe to our newsletter at the bottom of this page.
