Commercial and residential property news
Serco Australia has rented the Essendon Fields office vacated last year by The Good Guys, which is now based at Southgate after merging with JB Hi Fi. The sub-let deal was struck with the former tenant which has a head lease set to expire in 2023. The landlords, Beck Corporation and Linfox, announced the British
Read moreAUSTRALIA’S PREEMINENT THOROUGHBRED TRAINING FACILITY SPANNING CLOSE TO 300 ACRES, 45KM* FROM THE MELBOURNE CBD 300
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The founders of Nationwide Towing & Transport have sold four industrial investments with a leaseback for a speculated total price of more than $14 million. The same vendors separately offloaded Collingwood’s Melbourne Impound Yard to RACV – which in 2017 acquired a 51 per cent stake of the tow business now under the Nationwide Group
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South Australia’s wealthiest person, Con Makris, is selling two Adelaide shopping centres. Via Makris Group, the Greek Australian property developer and investor is expecting about $200 million from the deals. The listings comes five months after the businessman offloaded another retail investment, Newton Village, 11 kilometres north east of the city, for c$35m to Parramatta-based
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ICD Property has picked a BVN design for its c$270m redevelopment of the 125 year old City Tattersalls Club. A six party panel was unanimous, the owner added. The proposal would see existing buildings refurbished, including with new club facilities and retail. A 49 level skyscraper will rise into the airspace; the lower eight floors,
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Two historic buildings in central Northcote – consolidated by interests associated with former Melbourne Football Club player Clint Bartram and permitted for a mixed-use but predominantly residential project – are being offered by the mortgagee. The 1050 square metre Commercial 1 zoned site stretching from High Street to Balgonie Place is expected to sell for
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A year after it acquired the former Wantirna Heights School, in Melbourne’s east, Oz Property Group this week won unanimous councillor support to replace it with 51 townhouses. At 56 Kingloch Parade, on the south west corner of Greenlow Avenue, the 1.25 hectare block cost the developer $9.71 million. The property was rezoned for residential
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The Royal Automobile Club of Victoria has paid the founders of Nationwide Towing & Transport $15 million for Collingwood’s Melbourne Impound Yard. The pair have a relationship – in 2017 the motor club acquiring a 51 per cent stake in the towing business. However, that agreement didn’t include some of the real estate occupied by
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One owner occupier is paying another $8 million for a recently constructed Meadowbrook industrial facility. On 1.8 hectares, with c200 metre frontage to Logan Motorway between Kingston and Loganlea roads, the property was offered with a two year leaseback by interests associated with Major Rigging. The purchaser intends to move in a fabrication business it
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A modern aged care facility – with Parkdale Beach at the end of the street – is speculated to be selling to an offshore investor for c$9 million – a price which would reflect a c5.7 per cent yield. The triple storey 60-bed complex at 43-45 Herbert Street, Parkdale, was offered with a new 15-year
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FJT Logistics has leased a Melbourne Airport distribution centre just vacated by Japanese rival, Nippon Express, which has expanded. The 4,532 square metre property, Warehouse B, Reid Way, is within Melbourne Airport Business Park and owned by Melbourne Airport Corporation. Knight Frank’s Marco Sandrin and Brent Glassford brokered the deal. FJT will relocate from Keilor
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Dexus will sell Lake Business Park South, near Sydney Airport, and five premium quality industrial assets in Melbourne’s Truganina, to Dexus Australia Logistics Trust – in which it controls 51 per cent. The $269.4 million deal reflects a 5.3pc passing yield. The portfolio of newly constructed properties is 91pc occupied with a weighted average lease
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LaSalle Investment Management, on behalf of pension fund CalSTRS (California State Teachers Retirement System), has sold a half share in a 30-storey Melbourne CBD office for $205.675 million. The vendor picked up the whole property, 222 Exhibition Street, for $231m in 2015. Its part-sale to Singapore’s GIC after a renovation is being struck on an
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Renewal SA is seeking a development and investment partner to replace part of the seven hectare former Royal Adelaide Hospital with a c22-storey, 35,000 square metre mixed-use commercial building to be known as the Entrepreneur and Innovation Centre (EIC). The tower is anticipated to be the flagship of the innovation precinct known as Lot Fourteen
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The Australian division of New York based Central National-Gottesman has leased a Rowville office/warehouse less than a week after it hit the market. The pulp, paper, packaging, tissue and plywood distributor – one of the biggest in the world – has signed at 1/39 Laser Drive for three years. It is paying starting annual rent
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Stockland has agreed to buy Johnson and Johnson Medical’s Macquarie Park headquarters and construct the vendor a replacement in the area. The put and call acquisition of 1-5 Khartoum Road aligns with the institution’s broader strategy “to up-weight” its workplace and logistics portfolio, Stockland chief executive officer, commercial property, Louise Mason said. It also builds
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Peter Hart has applied to build an eight level office on a row of neighbouring Collingwood sites – two which for decades until April accommodated bar and sex-on-premises venue Club 80. The proposal, known in planning documents as Peel Street Studios, will contain 2355 square metres of area with balconies on the fourth and seventh
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The Victorian Hot Rod Association has sold its Hughesdale headquarters for $900,000 – 30 times the price it paid in 1977. The car club accepted the early offer for 69 Warrigal Road, which was scheduled for auction this Thursday, but changed to an expressions of interest campaign when local stage two lock down restrictions came
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Metcash is expanding its hardware sector presence with a $57 million bid for a 70 per cent stake in middleweight national chain Total Tools. The agreement, which the Australian Competition and Consumer Commission has been reviewing since June 30, allows for the purchaser to buy the balance of the business within four years. If approved,
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Ingenia Communities has spent $16 million on a lakeside over-55s village on the NSW Central Coast. The 4.2 hectare Sunnylake Shores at 2 MacLeay Drive, Budgewoi, includes 90 permanent homes and permission to build 38 more. Some of the proposed dwellings – on blocks fronting Lake Munmorah – are to be offered for in excess
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