APBC Reaps $12.5 Million From 480 Collins Street Shops

Asian Pacific Building Corporation, headed by establishment family the Deagues, can expect to make another $12 million from the sale of ten shops, as part of its 1 Queens Road strata office building.

The Deagues paid $11.8 million for that building in 2000, before extending it, and filling it with shops at ground level, apartments up top, and offices in between.

Those with longer memories may remember 1 Queens Road when it was known as the Tabcorp building, and before that, the Racing Industry Building.

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Marc Pallisco

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