Author: Marc Pallisco

Cbus Property or Mirvac will be selected to build a c$2 billion mixed-use village on outgoing public land described in 2012 by late lord mayor and businessman, Ron Walker, as “Melbourne’s front yard”. The 1.4 hectare holding is Jolimont Rail Yard airspace controlled by VicTrack on the south side of Flinders Street running the length

Vicinity Centres has unveiled plans and lodged the first permit applications for a $2 billion mixed-use redevelopment of its prominent Box Hill Central sites, in Melbourne’s east. Affecting 5.5 hectares, the project will be identified by a 48-level tower, the suburb’s tallest, set to contain 366 flats, 7000 square metres of office area and ground

Sentinel Property Group has sold City West Plaza in Melbourne’s west to Cadence Property Group and Assembly Funds Management, the latter an entity part-financially backed by Sydney-based Westfield co-founders, the Lowy family. The Sunshine North homemaker centre at 484-486 Ballarat Road is trading for $39 million following an off-market deal negotiated by JLL’s Stuart Taylor

Balaclava warehouse-turned-reception centre Red Scooter – which hit the market in the March week social distancing measures were introduced, before being withdrawn – is relisted. The 333 square metre site at 25 William Street, seven kilometres south east of Melbourne, is for private sale at $2.3 million. That price reflects a low 3.6 per cent

EXCLUSIVE In major Melbourne commercial property industry news, CBRE and one its highest profile and biggest billing agents, Mark Wizel, split today. The announcement comes 11 months after the agency poached Sydney broker Simon Rooney from JLL and drafted rules of engagement which, amongst other things, prevented colleagues nationally from competing on listings worth more

The high-profile Brunswick site with protected Melbourne CBD view lines over Princes Park has been listed for sale by its Chinese developer owner after four years of planning controversy. The 6465 square metre parcel known as 699-701 Park Street, but actually comprising multiple addresses, could trade for close to $40 million according to sources. Vendor

The investor who picked up an under-utilised Melbourne CBD apartment building on a one per cent yield in 2017 is ready to cash in after adding substantial value to the airspace. Dysin Investment Partners can expect more than $8 million for 21-23 Anthony Street which was listed for sale this week as a development site,

A row of old shops in Northcote’s Westgarth precinct, consolidated by interests associated with former Melbourne Football Club player turned developer Clint Bartram, sold for more than $3.3 million last week. The 783 sqm development site, 43-47 Simpson Street, was offered with permission for a four storey mixed use complex with 18 dwellings and three

Addiction treatment organisation Arrow Health has leased an unusual suburban office built into what was a hall connected to Armadale Uniting Church. The workplace, 86B Kooyong Road, Armadale, was “substantially” refurbished by the religious group about five years ago for occupation. Over two levels with 245 square metres of A-grade area – and offered with

Revered chef and restaurant owner Teage Ezard has found a buyer for his extended and renovated Elwood Federation a month before auction. The sale price of 10 Byrne Avenue is understood to be setting a suburb watermark – the guide being $6-$6.6 million when it hit the market a fortnight ago. The record has been

Architecture firms DKO and Slab have received unanimous council support for an eight storey commercial building in Melbourne’s inner north east Collingwood. The tower permitted for the 468 sqm Commercial 2 zoned block at 19 Down Street will contain 2275 sqm of offices, a café, gallery and theatre. Factoring areas for facilities and services, the

Amazon Australia has leased a 330 square metre warehouse at Melbourne Airport Business Park in Tullamarine. The space is for Amazon Flex – a business launched in January in Melbourne and Sydney. Similar to the way Uber employs riders to transport people and food, the app-based enterprise allows individuals with a vehicle to sign up

MAB Corporation has earmarked a 19-storey apartment complex, Tempo, beside Box Hill’s first skyscraper – a commercial building leased to the Australian Taxation Office. The residential proposal for 2-4 Bruce Street will replace a former public car park. City of Whitehorse sold the land which will make way for Tempo Box Hill at well below

Pace Development Group has applied to demolish a row of Fitzroy warehouses, including the former Mark Tuckey furniture store, and construct a 12-storey mixed-use complex with basement car park. The builder, directed by Shane Wilkinson, paid $20 million last July for the 2437 square metre corner site encompassing 223-231 Johnston Street and 369 Gore Street