Commercial and residential property news
An investment marketed as a development opportunity in the outer south-east Melbourne suburb of Berwick is selling for a speculated price of about $7.5 million. At 60 Kangan Drive, the 5000 square metre parcel (pictured top and left) includes a 962 sqm building leased to a swim centre which pays annual rent of about $300,000.
Read more
Former AFL footballer Travis Cloke (pictured, top) is selling the Kangaroo Ground property he bought just two years ago. The contemporary single-storey home on 8.24 hectares at 329 Wedge Tail Court carries a price guide of between $2.4 million and $2.6 million. The ex-Magpie, who played 10 games for the Bulldogs in 2017 before retiring,
Read more
New York based investment bank Moelis is understood to be close to finalising an agreement worth a speculated $271 million for five Victorian pubs. The properties – touted upon being listing in May as the single largest gaming portfolio to hit the Victorian market – were offered by the Zagame family, whose Zagame Corporation began
Read more
Austral Bricks is banking $41 million from the sale of adjoining industrial sites in Riverwood, about 18 kilometres south of the Sydney CBD. The properties – 62 Belmore Road and 11 Bonds Road (pictured top and left) – were offered with a partial-leaseback for 13,262 square metres, for 10 years. The 9.05 hectare holding sold
Read more
Vicinity Centres has sold 11 shopping centres spread across Victoria, New South Wales, Queensland and Western Australia, for a total of $631 million. One asset, the Belmont Village shopping centre in Geelong, and worth $58 million, sold in a deal which settled last month to a Sydney-based investor, the Geelong Advertiser reports. Ten more assets
Read more
Networth co-founder Leslie Heine is wasting no time profiting from a South Yarra office building he was reporting as buying last month for $13.5 million. The businessman is seeking to rent the commercial space within 141 Osborne Street – a five level complex (pictured top) for years occupied as the Osborne Business Centre, a serviced
Read more
A fully-leased industrial investment north of Adelaide has sold for $10.1 million. In Gepps Cross, about 12 kilometres from the city centre, 115 Cavan Road (pictured, top) has been occupied by State Records of South Australia since 2003. The asset was offered with a new five year lease to the state government, which then has
Read more
The Elsternwick house former AFL player Ben Cousins rented while he lived in Melbourne, and played for the Tigers, is for sale. The Edwardian terrace at 18 Willow Street (pictured left and bottom) carries a price guide of $1.55 million to $1.7 million. Over two levels, the fully renovated weatherboard home includes three bedrooms, a
Read more
Hawaiian and Queensland Investment Corporation have paid $4 million for a historic building next door to their Claremont Quarter shopping centre, in west Perth. The consortium acquired 21 Bay View Terrace (pictured, top) in Claremont from private investors which previously occupied the building. The double-storey retail asset includes 340 square metres of lettable area, which
Read more
The Polding Centre in the Sydney CBD could be replaced with a 61-storey apartment building atop an eight-level podium if plans submitted by the owner, the Catholic Archdiocese of Sydney, are approved. It is reported the church may sell the site, which includes a 1977 building it occupies (pictured, top), if permission for the 234-metre
Read more
A modern office in Melbourne’s Docklands is for sale with price expectations of about $200 million – a substantial rise on the $113 million paid in 2010 by the vendor, Kumpulan Wang Persaraan (Diperbadankan), also known as Retirement Fund Incorporated – a Malaysia-based pension fund. The 10-storey building at 737 Bourke Street (pictured, top and
Read more
The son of late actress Cornelia Frances has sold her home in Sydney’s Neutral Bay. The apartment at 50 Aubin Street traded for $1.075 million at auction on Saturday. Online advertisements for the property, which are still active, attach a price guide of $1 million for the home. Ms Frances (pictured in 2011, top) paid
Read more
The month after being replaced as the leader of the federal Liberal Party, Malcolm Turnbull is selling his Canberra penthouse. The two-level dwelling offers “the most sensational views over Lake Burley Griffin” and is “lightly lived in” according to the online advertisement posted by the marketing agents, Berkely Residential’s Peter Salapatas and Bill Lyristakis. It
Read more
It is the day the music died in Melbourne city retail. Last week, For Lease signs went up on the windows of the Bourke Street premises for years occupied by Allans Music – Australia’s oldest music retailer – which in 2010 merged with Billy Hyde Music. In 2012 the Allans Billy Hyde business was placed
Read more
Actress, director, producer and script writer Claudia Karvan with partner Jeremy Sparks, a successful engineer, can expect some $2.7 million from the sale of their former home, a four-storey warehouse apartment (pictured left and bottom) in Sydney’s inner-south suburb of Redfern. The property – within a former clothing factory which Mr Sparks converted into five
Read more
Paris-based AXA Investment Managers is continuing a national real estate spending spree, entering due diligence to buy four hotels on the east coast for around $330 million. The assets include: • Novotel Sydney Olympic Park (pictured, top) with 177 rooms • Pullman at Sydney Olympic Park (218 rooms) • Ibis Sydney Olympic Park (144 rooms)
Read more
Amazon – the world’s biggest online retailer – has opened a new bricks-and-mortar store. Amazon 4-star sells products rated 4-stars and above on its website. Top sellers, and products which are new or trending, are also being offered in the physical store which opened last week at 72 Spring Street in New York City’s SoHo
Read more
A twelve storey hotel with 55 suites, but three car parks, is mooted to replace a historic workshop opposite the Royal Melbourne and Royal Women’s hospitals and Victorian Comprehensive Cancer Clinic. The application for 61-63 Flemington Road, North Melbourne, will be the latest “super skinny” tower for the city: the site, on the north-west corner
Read more
Flight Centre – the largest retailer of travel in Australia – is checking into the hotel business. The group is reportedly keen to expand into hotel management, leasing and ownership – with sites in Sydney and Melbourne on its radar. According to this item in The Australian, the group already manages hotels and resorts in
Read more
An eight level apartment building will replace three industrial sites (pictured, left) in the Melbourne suburb of Kensington, if approved by the local council. A total of 41 apartments are mooted for the 1068 square metre holding covering the addresses 415-423 Macaulay Road, nearly three kilometres north-west of the CBD. The parcel is about 200
Read more