Anne Kantor banks $12.1m at Camberwell Junction

The double storey Camberwell building contains 844 square metres of lettable area.

Anne Kantor, daughter of late publishing identity Sir Keith Murdoch and Dame Elisabeth, has sold another prime located Melbourne retail strip shop investment.

The double fronted, two storey building, 735-737 Burke Road, Camberwell, traded for $12.06 million following an expressions of interest campaign which closed on Thursday.

When Fitzroys agents Chris James and David Bourke listed it in February, initially for auction, the guide was c$8m.

The upper level is configured with offices.

The Kantor family paid $2.02m in 1997.

On 490 square metres at the south west corner of Commerce Lane (one of the thoroughfares connecting Burke Road to shopping centre The Well) – the Camberwell property offers 844 sqm of lettable area.

Fully leased to the Commonwealth Bank of Australia, the sale price reflects a 3.5 per cent yield.

The site spreads 490 square metres.

The occupier signed a seven year lease agreement prior to 735-737 Burke Rd being listed. With options, it could rent until about 2037.

The property is in the Camberwell Junction Activity Centre precinct.

Nearby retailers include Country Road, Mecca, Minimax, Sheridan and Witchery.

Camberwell is nine kilometres east of Melbourne’s CBD.

Second Melbourne bank sale for Kantor family

Last September, Ms Kantor sold a retail asset leased to National Australia Bank in Brighton – 11 kilometres south of the city.

That $6.105m deal for 35 Church St also reflected a 3.5pc yield (story continues below).

Coincidentally, that property neighbours a Country Road, Mecca and Witchery, too.

However it is on a smaller site (288 sqm).

Ms Kantor paid $1.08m for the Brighton investment in 1996.

Murdoch family property news

Ms Kantor’s brother, Rupert Murdoch, continued to work in publishing, diversifying from print into digital spheres.

The businessman controls more than 61 per cent of REA Group which owns the Australian property search portals realestate.com.au and realcommercial.com.au.

In 2018, the North Adelaide home at 17 Tynte St said to have once been his family residence was listed.

Last December, Lachlan – one of Rupert’s sons, spent a reported US$150m for 1930s Beverley Hills mansion Chartwell, with 18 bedrooms on four hectares.

The young Murdoch also paid the French government $23 million in 2009 for the historic Le Manoir in Sydney’s Bellevue Hill, his Australian family home.

Ten months ago, Janet Calvert-Jones – another daughter of Sir Keith and Dame Elisabeth – won approval to replace airspace of the historic German Club in Melbourne with a 23-level office.

Between 1984 and 1995 that property, 7-13 Alfred Place, near the corner of Collins St, was occupied by revered late chef Mietta O’Donnell and traded as Mietta’s.

Burke Road, Camberwell, is about nine kilometres east of the Melbourne CBD.
The double fronted double storey building traded this week for $12 million – well over the c$8m guide.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.