Author: Marc Pallisco

EXCLUSIVE In an unusual deal, Calvary Health Care Bethlehem has snapped up a Parkdale hospital it only recently agreed to rent temporarily. The healthcare service and accommodation provider is paying $10.2 million for 152 Como Parade West, about 20 kilometres south of the Melbourne CBD. Formerly owner occupied by Healthscope, which was the client selling

Interests associated with burgeoning builder Ausgroup Property and Development have paid $6.8 million for a corner hotel turned mixed use investment in Melbourne’s inner north Carlton. The deal is the first and only one struck along the suburb’s Lygon Street retail strip last year. Colliers International’s Daniel Wolman, Oliver Hay and Dave Walker, with MMJ

The distinctive Parkville Post Office and adjoining five bedroom postmaster’s residence, in Melbourne’s inner north, is for sale. Still occupied by Australia Post, which sold it over 20 years ago to the current vendors – the c1889 complex at 69 Fitzgibbon Street is expected to trade for between $3.6-$3.9 million at auction next month. The

St Kilda’s Hotel Esplanade could soon be controlled by KKR, a New York private investment behemoth. KKR backed Australian Venue Company is reported to be buying Sand Hill Road, a business which controls some nine hospitality venues including the recently refurbished ‘Espy’. Australian Venue Company already owns 157 hotels and is readying for a $1

Yarralinda Primary School and Early Learning Centre has sold its outgoing Mooroolbark campus for $4.07 million With sale proceeds the educator plans to relocate to a more modern school, it said upon listing the site last August. The operator is reportedly one of two in the country licensed to teach based on the works of

EXCLUSIVE The Pellicano family has sold a large, modern and fully leased Ravenhall factory, off-market, for $17 million. The deal for 11-17 Business Park Drive is being struck on a 5.78 per cent yield – which is low for Melbourne’s industrial market. The return is even more impressive when it is factored in that the

The St Kilda building which accommodated nightclub Area 61 has sold off-market. The $7 million deal for the double-storey and multi-tenanted 61 Fitzroy Street values each of the 735 square metres of Business 1 zoned land at $9524. The internal area is priced at $13,917 per sqm. The transaction reflects a 3.15 per cent passing

Victorian developer Piermont Group has paid $6.4 million for the former Carrington Caravan Park in the coastal holiday hamlet of Rosebud. The 110 Elizabeth Drive property is now set to make way for a low-rise, medium density project potentially with about 50 dwellings. The parcel was selling about three years ago to Steller, which went

EXCLUSIVE Stockland is paying a speculated $16 million for a 4010 square metre former industrial site in Melbourne’s inner north Brunswick. The 429-435 Albert Street parcel was only recently rezoned to allow for high density residential development. The holding is less than 100 metres from a 7500 sqm block, 397-403 Albert Street, which rival Mirvac

Private Melbourne investor Brendan Sullivan is continuing to reweight his property portfolio, paying $5.85 million for five strata titled industrial units in the city’s eastern Vermont. The properties, 1-5, 187-201 Rooks Road, traded on a blended passing yield of 6.55 per cent. They ranged in size from 529-870 square metres. Cushman & Wakefield’s Andrew O’Connell

Stockland has secured two high profile businesses to tenant a $44 million speculatively built facility at its KeyWest Distribution Centre in Truganina, in Melbourne’s west. JB Hi Fi and Brandlink have taken a combined 30,000 square metres. The recently completed 30,576 sqm complex forms part of a Stockland plan to push into Melbourne’s industrial distribution

Riverlee is intending to construct a business park on a 1.15 hectare building block it has just bought in bayside Cheltenham, 18 kilometres south of the Melbourne CBD. The developer paid $7.9 million for 9 Ambrose Avenue (pictured, top, shaded) following an off-market deal which settled last quarter, managed by Knight Frank’s Gab Pascuzzi and