PrimeLand Group with Singaporean fund Baksh Capital has paid $9 million for East Melbourne’s Magnolia Court with intentions to renovate and extend it. The guesthouse at 95-101 Powlett Street wasn’t for sale six months ago however, with hospitality one of the hardest hit sectors in the early stages of the COVID-19 pandemic, vendor Leaper Holdings

The recently vacated City Mazda dealership in South Melbourne, opposite South Wharf, will make way for a $1 billion-plus village with apartments, offices, shops, a hotel and new showroom. Planning minister Richard Wynne this morning approved Gurner’s proposal to replace 2-28 Montague Street and 80 Munro St with three towers, rising 38, 24 and 15

General Motors Holden has sold its Lang Lang proving ground to three year old Vietnamese car maker VinFast for a speculated price of nearly $20 million. The deal will see General Motors Special Vehicles – the new name for Holden Special Vehicles – retain access for testing. Holden enthusiast club members and former employees via

Pelligra Group is paying a speculated $35 million for the Rydges on Swanston hotel at the centre of the botched quarantine program, part responsible for Melbourne’s latest COVID-19 outbreak. The 107-suite guesthouse at 701 Swanston Street, Carlton, will now be renovated as a 4.5-star inn with conference facilities, and re-let. Vendor, Adelaide based hotelier David

Victorian planning minister Richard Wynne – with the backing of the COVID Building Recovery Taskforce – today approved 10 projects worth a total of more than $2 billion. The biggest – a mixed-use village comprising three towers – is earmarked for a 9720 square metre South Melbourne site opposite South Wharf. With an end value

A prominent and long-vacant block in central Wodonga has sold to a developer expected to replace it with a multi-level project comprising showrooms and offices. The 2457 square metre Activity Centre zoned site at 171-175 Beechworth Road on the north west corner of Nilmar Avenue, and also on a roundabout connecting High, Hovell and Lawrence

Menarock is selling a Croydon aged care facility purpose-built for the occupier 20 years ago. Dorset Lodge at 362-366 Dorset Road is expected to trade for more than $6 million which would reflect a sub six per cent yield. The tenant recently signed a five year rental agreement but with options can stay until 2039.

An industrial property resembling an open air car park – paved where a building should stand and with structures on its periphery – has traded for $2.73 million. The 3328 square metre rectangle shaped property, 69-71 Voltri Street, in Melbourne’s Cheltenham, is set to make way for a new building after selling to a local

A New Zealand investor has spent $7.1 million on a modern west Melbourne industrial property following video walk-through inspections. The fully leased asset at 33-39 Jessica Way, Truganina, is trading on a 5.75 per cent net passing yield. It includes an office and dry blending and milk powder factory, constructed in 2008 and expanded in

An investor has spent $4.25 million for the strata titled south east edge of the Kilsyth Shopping Centre. The 2183 square metre building, which occupies all of the footprint, is tenanted to Coles on a month to month basis and was also marketed to owner occupiers. On Commercial 1 zoned land, Savills’ Rick Silberman and

A newly formed investment fund has spent $3.9 million on a Brunswick property with development upside. The 1996 square metre Industrial 1 zoned site at 3-7 Syme Street was offloaded by Brunswick Industries Association – a not for profit group which provides employment support – with a long settlement. The west boundary abuts 94 Feet

An entity which because of COVID-19 had to suspend the April bulk-auction of seven small Keysborough industrial investments has sold them, but via a two stage expressions of interest campaign. Demand wasn’t dampened, according to the selling agents, Gross Waddell’s Andrew Greenway, Alex Ham and Australian Professionals Property Service’s Paul Doherty – with 26 offers