Commercial and residential property news
Incore Developments is paying $6.42 million for a double storey South Melbourne office with plans for another, six times taller. The 903 square metre Capital City 1 zoned property, 67-69 Buckhurst Street, was purchased from the owners of Stowe Australia, a business which occupied it for 16 years. The electrical contractor recently relocated to a
Read moreAUSTRALIA’S PREEMINENT THOROUGHBRED TRAINING FACILITY SPANNING CLOSE TO 300 ACRES, 45KM* FROM THE MELBOURNE CBD 300
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LOGOS has released construction shots of News Corp Australia’s Truganina printing press – five months after it was reported to have broken ground. The media group confirmed it committed to the 1.1 hectare facility 22 kilometres west of Melbourne last September. The initial lease term is 10 years. It is from this property its Herald
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Restaurateur Jamie McBride has leased a studio office atop of his Gilson eatery for a private function room. The contemporary 83 square metre area, 1/171 Domain Road, South Yarra, includes a balcony overlooking Melbourne’s Royal Botanic Gardens. Self-contained, with hydronic heating, and split system air conditioning – the starting annual rent is $50,000. Gorman Commercial’s
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Denmac Nominees has sold three near-new Queensland service stations to APN Convenience Retail REIT (AQR) for a total of $27.5 million. The blended yield for Brisbane’s Coles Express Acacia Ridge and Coles Express Moorooka (pictured, top), and Coles Express Cairns, in the state’s far north, is 6.3 per cent. Almost two thirds of the portfolio’s
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Australian Select Timbers has leased a new warehouse at Salta Properties’ 177-hectare Nexus Industrial Estate in Dandenong South. The 6975 square metre building, inclusive of a 545 sqm office, is known as 136 Atlas Boulevard and sits at the edge of a holding with a larger factory, being marketed as 85 Portlink Drive. Colliers International’s
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Local developer Goldfields Group is purchasing a 1.1 acre mixed-use development site near St Kilda Junction. The former Montefiore Home for the Aged facility at the south west corner of Punt Road and Raleigh Street, Windsor, is understood to be trading for about $35 million. It was offered in June by Jewish Care Victoria, which
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Epson has rented a standalone Hawthorn East office as its local base. The 630 square metre double storey building at 90 Camberwell Road was only recently renovated by owner Forza Capital. Colliers International’s Ash Dean and John Howell with JLL’s Josh Tebb, Tim Sugar and Mario Nobrega marketed the floors for lease separately – both
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Alceon has pre-sold a Gold Coast office earmarked for part of a site acquired from the local council early last year. Building 1 within the Acuity Business Park at Robina is trading to a private investor for $41.3 million on an initial 6.5 per cent yield. The price reflects a building rate of $6817 per
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Qantas is conducting a group wide review of its rented space, particularly corporate offices. The airline is headquartered at a 49,000 square metre facility at Sydney’s Mascot while its Jetstar arm is based in Melbourne’s Collingwood. Property occupied for flight simulator centres – the group again isolating the south eastern capitals – as well as
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Reece has pre-committed to a 4.7 hectare industrial facility at and owned by Melbourne Airport. The plumbing and bathroom group intends to occupy the 11,670 square metre factory by August, consolidating a number of distribution centres in the city’s north. The proposed property would be the latest within the 410 hectare Melbourne Airport Business Park,
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LF Logistics has expanded its tenancy at a business park being developed by LOGOS in Sydney’s north west Marsden Park. The occupier in June committed to a 13,000 square metre purpose-built facility – now under construction. Today it announced it will bolt on another 9700 sqm warehouse – to deal with “growing e-commerce customers in
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Keppel REIT is paying $306 million for a modern and near fully occupied commercial investment in Sydney’s north west. Pinnacle Office Park, with two mid-rise, A-grade offices and a shorter building with development upside, is trading on a 5.25 per cent initial passing yield. Goodman Group is the vendor. The asset is in Macquarie Park,
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Sam Daniels, a member of one of Queensland Gulf’s biggest cattle producing families, outbid 10 suitors on Friday to pick up Cloncurry-region breeding and fattening farm Nardoo Station. The 97,500 hectare property 95 kilometres west of the Burke and Wills Roadhouse cost $35 million following an auction in Brisbane. Russell Pearson, who earlier this year
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Uniting Care is paying the Franciscan Order of Friars Minor more than $17 million for a 6.6 hectare Campbelltown site within the recently rezoned and master-planned Maryfields Estate. Part of the property at 192 Narellan Road can be subdivided into a 500 house lots. A 200-bed aged care complex is also earmarked as is a business
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A Chinese builder has spent $6.22 million on a farm in Melbourne’s north west Sunbury. The 7.28 hectare property, 60 Redstone Hill Road, was offered with a plan for a 103 (large) lot subdivision. Only 5.1ha is developable. It is beside Villawood’s Redstone housing estate, which is master-planned with 2000 dwellings. In coming years, two
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Henley Properties is paying a speculated $8 million for a low density housing block in Melbourne’s Officer. The 4.1 hectare tract, 110 Bayview Road, was offered by Gold Coast’s Potter Group, directed by John Potter who founded Citie Centre Limited which later merged with Villa World. It is permit-ready for a 51-lot subdivision; parcels ranging
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Winning Group has expanded in Adelaide, taking space within ISPT’s Charles Sturt Industrial Estate in Woodville. The online appliance retailer has committed to 7300 square metres being Building 21.2, 20 Cheltenham Parade. The 23.2 hectare business park is at 853-867 Port Road, eight kilometres north west of the city. So far it contains 55,329 sqm
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Deka Immobilien is outlaying $440 million on an A-grade Melbourne CBD office. The 22-storey, 38,000 square metre building at 452 Flinders Street is costing the German investor 11 per cent over the June 30 book value. Vendor, Dexus Wholesale Property Fund, paid $194m in 2011, later undertaking a refurbishment. Developed in 1994, it is fully
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Gatsby Living has leased a maiden showroom at Preston’s Northland Homemaker Centre. The new retailer has signed a seven year deal for the 1120 square metre unit formerly occupied by Barbecues Galore. Leedwell Property’s Chris Parry, Tom Perkins and Nick Segran said the agreement was negotiated during Victoria’s stage four lockdown. A number of businesses
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