Business confidence up in June: NAB
National business confidence rose in the June quarter. The NAB Business Confidence Index increased 20 per cent to -4, an
Read moreNational business confidence rose in the June quarter. The NAB Business Confidence Index increased 20 per cent to -4, an
Read moreCostco is proposing a $55.4 million store and office at a site in Sydney’s western Auburn. Expected to open late
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EXHIBITIONIST sunbakers and adventurist gays visiting Mount Eliza’s Sunnyside beaches might have to contend with the sight and sound of construction workers for a few years longer.
Millionaire horse trainer Jonathan Munz has successfully lobbied the Victorian Civil and Administrative Tribunal for a permit to build a luxury home and tennis court on a waterfront piece of his landmark Pinecliff horse training complex – near another home that was demolished in 2006.
Pinecliff, at 55-75 Sunnyside Road is on Green Wedge Zone 3 land near the YMCA’s Manyung Recreation Camp, the Morning Star Winery and Mornington Golf Club (an image of the Mount Martha coast, above).
Read moreGrant Thornton is seeking a development partner to complete a $170 million eco village at Foster, on the New South
Read moreVictorian new home sales dropped by 9 per cent in May, following months of increased sales resulting from the boosted first home buyer grants.
Overall Victoria’s new home sale market is still performing impressively, with detached home sales increasing by 16 per cent over the three months to May 2009, according to the Housing Industry Association’s survey of the state’s largest builders.
“Along with other leading indicators, the figures point to a healthy new home building market in Victoria in 2009,” said HIA Victorian Executive Director Gil King.
Read moreLend Lease has won a $250 million Building Education Revolution contract. Below is a published statement: Lend Lease Corporation Limited
Read moreRouse Hill Town Centre has taken top honour at the 2009 Property Council of Australia Rider Levett Bucknall Awards for
Read moreA former Geelong Grammar campus is for sale. With 47 rooms, the c1857 Gothic building at 55 Maud Street could
Read moreSinger and radio commentator Denis Walter with wife Annette have listed a historic Geelong home. The Federation Tandara, at the
Read moreThe federal government has allocated almost $8.5 billion for major infrastructure projects. The Building Australia Fund – worth $20b last
Read moreResidential building approvals in NSW increased for the third consecutive month in April to reach their highest level since last
Read moreA year after its owner made headlines warning he could not pay a Brumby government imposed $30,000 annual licence fee
Read moreThe new owners of the Nightingale Electrics store at 420 Spencer Street have applied for a bigger denser building. The
Read moreBorrowers with Australia’s top four banks are eligible for repayment relief to deal with the Global Financial Crisis, prime minister
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ACTORS Reg Gorman and Judith Roberts have sold their two-bedroom apartment in St Kilda East’s quaint Ardoch development for $740,000.
The renovated, ground-floor unit at 8 Ardoch Avenue is in one of Ardoch’s historic buildings, built in the 1920s. The oldest building in the unique estate dates to the 19th century, while newer buildings were developed on the site in the mid 1990s.
Ardoch centres around a grassy expanse, and its residents share a sauna, gymnasium and indoor pool. The property was once used as an orphanage, and a school.
Read moreHistoric Yarraville home Huntly is for lease. In Willis Street, near the Sun Theatre and train station, the recently renovated
Read moreThe Wimbledon Heights home where John Leslie Coombes killed Nicole Godfrey in 2009 is for sale. The asking price –
Read moreStockland today announced the sale of three commercial office buildings for a total of $95.1 million. The sale includes: •
Read moreValad has posted this statement about Petrac: Valad Property Group today advised that receivers have been appointed to three projects
Read moreCon Andronis, founder and director of event management company Atlantic Group and Clamms Seafood – is selling an Albert Park
Read moreOutgrowing an inner-city house may no longer mean selling up and moving to the ‘burbs. The team behind a novel North Carlton renovation, which turned a 200-square-metre terrace into a 350-square-metre family home by creating a basement level, has opened up a business in Melbourne.
Read moreNinety nine years after it was developed, the Palace Theatre, known to a generation as the Metro nightclub, is for
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ENTERTAINER Rove McManus has sold his Richmond home for $3.4 million – returning a nifty profit on the $1.9 million he paid in 2003.
McManus, who recently moved to the US and paid $1.2 million for a house in Hollywood, listed the 144-year old Docker Street home for sale earlier this year.
It was advertised to sell for about $3.5 million, and was deemed “on the market” when bidding hit $3.31 million.
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QUEENSLAND-born developer and fund manager FKP has quietly listed another major CBD asset for sale.
FKP, which recently relocated its headquarters to Sydney, can expect some $35 million, sources say, for the fully-leased office at 399 Lonsdale Street.
The 10-storey building, on the south-west corner of Hardware Lane, was developed in 1986 and fully refurbished in 1993 and 1997. It includes 10,176 square metres of office space, and is fully leased to education service provider Taylors College.
In recent years, the top of the city has become a private education service hub. Last March, education entrepreneur Shesh Gale, owner of the Melbourne Institute of Technology, paid $15 million for the historic Argus building at the north-west corner of La Trobe and Elizabeth streets, which will reopen as a school after a refurbishment.
Read moreCharter Hall is believed to have dropped its offer for Channel Nine’s outgoing Richmond television studios by c$20 million. Sources
Read moreAMP, representing Sunsuper, has paid c$107 million for Melbourne’s 330 Collins Street. The 17-level renovated office, in which a previous
Read moreThe federal court has thrown out an appeal by Australia’s third largest home builder, Metricon, which was recently judged to
Read moreESTABLISHMENT family the Smorgon’s have sold a Melbourne CBD office for $16.35 million.
The Katherine Place complex at 517 – 537 Flinders Lane was developed in the 1980s by the Becton Group and includes two buildings, known as 517 – 525 Flinders Lane (rising four levels and with 5609 square metres) and 533 – 537 Flinders Lane (a smaller four-level 1556 square metre office).
Both assets are flanked with ground floor retail. Private investor Brendan Sullivan has been reported as the buyer, purchasing the asset on a low yield of 6.2 per cent.
Read moreMelbourne CBD office rents are amongst the country’s cheapest according to new JLL research. For premium product, the agency said,
Read moreVicRoads has listed a 31.3 hectare mixed-use development site at what is presently Melbourne’s northern outskirts, but will soon be
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FABRIC store retailer Lincraft has paid $6.5 million for an office warehouse building at Derrimut’s Gilbertson Industrial Estate.
The 2.53 hectare site at 60 Fulton Drive includes a 9114 square metre office warehouse, and was sold with a short term lease to distribution company Axima.
Lincraft, which was in receivership just six years ago, before being bought out, will owner occupy the western suburb site, ending a search that saw it hem office warehouse all around metropolitan Melbourne.
“It’s been many years since a property of this quality was offered for sale to an owner occupier within the Gilbertson Estate,” said Colliers International agent Nathan Bingham, who sold the site with Tony Iuliano.
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SEVEN months after paying the Church of Scientology $8.5 million for its long-time, outgoing, Melbourne CBD headquarters, Melbourne developer David Marriner has proposed a glass, 25-level hotel.
The proposed development will retain the historic building (right) at the corner of Exhibition and Little Collins street. The building will be reconfigured as retail and strata office space.
Atop the historic building, separate by stilts (not unlike a proposed building above the former Le Louvre boutique nearby), a large scale skyscraper will be developed.
Read moreStockland is paying $300 million for a 1,121 hectare Melbourne development – understood to be Australia’s largest individual land transaction.
Read moreFormer footballer turned chief executive of the AFL coaches association, Danny Frawley, is selling a three hectare estate near Ballarat.
Read moreA historic West Melbourne warehouse-converted-office, once Mushroom Music’s headquarters, sold this week for $3.6 million. Configured over two floors and
Read moreRacehorse owner and tuna farmer Tony Santic is offloading a 1725 hectare lifestyle property at Gnarwarre, west of Geelong. Roxby
Read moreCHINA based builder Sunnyland Investment Group has paid about $40 million for a major St Kilda Road development site which has the potential to yield at least two major apartment skyscrapers, and a ground floor shopping centre.
The purchase continues a trend of Asia-based investors swooping on inner-city sites and exploiting the state government’s problematic Melbourne @ 5 Million planning policy which encourages higher density redevelopment around existing roads and public transport – a strategy that hasn’t gone unnoticed to stressed drivers, bus and rail commuters in this election campaign.
Sunnyland’s latest acquisition is of the Clemenger BBDO House office at 472 – 474 St Kilda Road, on the south-west corner of Leopold Street.
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VICTORIAN Planning Minister Justin Madden has approved a planning permit and rezoning of Campbellfield’s Pipeworks Market, paving the way for Swedish furniture giant IKEA to open a new store there.
The 41,000 square metre IKEA store will be the group’s biggest in Australia. It will replace Pipeworks address at 400 Mahoneys Road.
In Melbourne, IKEA also trades from Victoria Gardens in Richmond, and is building another store in Springvale, near a new, large Harvey Norman store.
Read moreClement Lee has paid an as-yet-undisclosed sum for a riverside piece of the city. It is the second deal with
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SYDNEY based developer Lend Lease is set to develop a strata office building in Melbourne’s Docklands.
The $70 million project – Lifestyle Working Collins Street – will measure 9500 square metres and include 137 suites ranging in size between 48 and 123 square metres.
The complex, with a street address of 838 Collins Street, will include shared meeting spaces for occupants to share.
Read moreBettina Liano is selling in South Yarra after two and a half years. The designer and entrepreneur’s 48 Kensington Road
Read moreDon Ravida is selling a new build at 8 Maxwell Court, Toorak. The four bedroom residence, which his building company
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EAST Melbourne based developer and fund manager Becton is understood to have sold another office asset, this time in the CBD.
Becton is speculated to have reaped about $18 million from the sale of 422 Little Collins Street. On that assumed figure, the group made a loss on the $22.2 million it paid Vicland for the asset four years ago.
The eight-level, 5246 square metre building is 98 per cent leased, with education service provider Cambridge International College the largest tenant. The asset returned almost $1.7 million per annum in rent, and is understood to have sold to a private investor.
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A CONSORTIUM which retained a swag of apartments and townhouses built within the walls and around the garden of Portsea’s landmark Delgany estate, has put that portfolio on the market.
The distinctive limestone mansion on the non-beach side of Point Nepean Road was developed in 1923 by architect Harold Desbrowe Annear, as a holiday house for western district farmer Harold Armytage – whose other property included South Yarra’s Como mansion.
Delgany was converted into a luxury restaurant and hotel before being sold to developers for $10 million in 2003, who built flats within the historic home, and townhouses around the three hectare garden.
Read moreThe National Museum and State Library could be overshadowed by a 36-level skyscraper. Melbourne City Council is reviewing an application
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LEXUS of Blackburn – whose radio advertisements wake tens of thousands of Victorians ahead of 3AW’s popular Rumour File – has itself settled speculation it has made a major property play.
The prestige car dealership is understood to have paid about $12 million for News Limited’s former Leader Newspaper facility at 160 Whitehorse Road, near its existing facility at 146 Whitehorse Road.
Lexus will develop an iconic, new car facility on the site at the corner of Railway Road and near the Blackburn train station – set to highlight the brand’s environmental credentials.
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CHAPEL Street’s historic Conways Building sold at auction on Thursday for $12.8 million.
On a 1000 square metre site, the 2372 square metre Prahran building is configured as four ground floor retail shops, and ten upper floor commercial studios.
On a fully let basis, the property could rent for $775,000 per annum, meaning the asset sold on a 6 per cent market yield.
Read moreMirvac will launch its sixth Docklands skyscraper – Yarra Point – in October. The group will adopt a similar design
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DEVELOPER and fund manager Becton is still in a selling mood.
This time, the East Melbourne-based group is offloading a Little Collins Street office building it bought from Vicland for $22.2 million in September 2006.
The 422 Little Collins Street office is expected to fetch about $17.5 million this time around, reflecting a yield of about 10 per cent based on the assets approximate annual income of $1.75 million.
Read moreSouth Melbourne’s next skyscraper is set to rise from the former headquarters of radio stations 3AW693 and Magic1278. Kingsford Property
Read moreAnother winter and another coastal caravan park has sold to a builder. This time on the Mornington Peninsula, Flinders Caravan
Read moreModel turned restaurateur Janni Goss is selling a high-profile shop in Carlton North’s Rathdowne Village. The vendor can expect $2.7
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GONE are the days when St Kilda Road complexes were limited to about 12 levels.
With the sky now the limit in regard to residential development in Melbourne – the value of a low rise office, with three street frontages at 472 – 474 St Kilda Road has ballooned over the past four years.
Sources say Industry Superannuation Property Trust has entered advanced negotiations with an as-yet-undisclosed residential developer, to sell the Clemenger BBDO House building for about $37.5 million.
ISPT paid $29.6 million for the asset in October 2006.
Read moreAscot Vale’s Laurel Hotel sold at auction on Thursday for $3.32 million. The Mount Alexander Road site spreads 1167 square
Read moreMelbourne Victory senior executive Richard Wilson is understood to have quietly sold one of Hawthorn’s most exclusive homes for about
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AFTER picking up a prominent eastern suburb development site at a particularly depressed time in the property cycle last year, fast food chain McDonalds is readying to play property developer.
McDonalds is looking to replace part of a prominent former Patterson Cheney car dealership at 43 – 57 Maroondah Highway in Ringwood, with a 24-hour restaurant.
It paid about $15 million for the massive 16,380 square metre site, near the Maroondah Highway exit of Eastlink, almost a year ago.
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LOCAL developers are believed to have paid about $20 million for an inner-city business park near the riverfront suburb border of Richmond and South Yarra.
Sources say prominent Richmond investors Michael Gannon and Gus Cooper have purchased the Maple Close complex, at 650 Church Street, from another private investor.
Currently configured as six low-rise buildings with a combined net lettable area of 6600 square metres, the complex is considered under-developed by today’s standards – especially seeing it has four street frontages.
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RECEIVERS for the Letten Group have recovered $13.31 million from the sale of a historic Flinders Lane office and retail building.
Savills agents Clinton Baxter and Nick Peden sold 167 – 173 Flinders Lane at auction yesterday, in front of a crowd of some 250 people.
The property, on the south-west corner of Hosier Lane, was previously controlled by Mark Letten and celebrity health expert Dr John Tickel, who paid $3.67 million for the asset in September 2001.
Read moreFormer Melbourne Football Club board member and founder of furniture retailer The Guest Group, Bill Guest, is selling a former
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SKYSCRAPER developer Central Equity has abandoned plans to redevelop the former Kingsway Motel, in South Melbourne, and has instead listed the site for sale.
The former ASX-listed developer can expect to make about $15 million for the 2092 square metre property, which includes two terrace houses, and the prominent, white, six level, 41 room motel at the north-east corner of Park Street and Eastern Road.
Central Equity paid $6.25 million for the property just over three years ago, before obtaining a permit to more than double the number of apartments on the site, opposite the Latrobe Reserve.
Read moreThe Church of Scientology has offloaded a Melbourne CBD building it bought for $720,000 in 1980 as its headquarters. The
Read moreVIKING Transport has paid $12 million for a 10-hectare industrial facility in Melbourne’s west.
The purchase, of 441 – 459 Kororoit Creek Road will be the fourth owner-occupied site in the area for the transport and logistics group.
Knight Frank selling agents Matt Crofts and Andrew Macqueen said that with industrial vacancy rates levelling at about 4 per cent during the economic downturn, demand from both tenants and investors has been strong.
Read moreTwenty years since music promoter Glenn Wheatley and then brother-in-law, Richmond Football Club president Clinton Casey sold the Ivy nightclub,
Read morePublican Ricky Munday has listed a historic home in Geelong’s trendy Newtown. The four bedroom plus study, over two floors,
Read moreTHE “For Sale” signs continue to be erected around Docklands, with Melbourne developer Equiset the latest to put an office
Read moreResidents in Australand’s high-end Freshwater Place might have their million dollar views blocked, with developer Tony Schiavello picking up the
Read moreRichard and Alison Bouris, former owners of electrical retailer JB Hi-FI, have listed their contemporary Brighton home at 86 The
Read moreVictorian general events manager Brendan McClements is moving from Kew. The executive’s renovated Edwardian at 55 Disraeli Street should sell
Read moreActors Rachel Beck and Ian Stenlake are selling an apartment in a St Kilda block reportedly once also home to
Read moreFormer architect and managing director of Australian Bridal Services, Glen Findlay, and his partner, public relations executive, Vanessa Barcellona, are
Read moreAustralia’s House of the Year in 1922 – 114 Caroline Street, South Yarra – is for sale asking more than
Read moreCollingwood captain Nathan Buckley and president, also Channel Nine chief executive, Eddie McGuire, now share more than their love of
Read moreAnother historic regional Victorian pub is for sale. The former Shepparton Hotel, which was part destroyed by fire in late
Read moreFUNNY girl Gina Riley and television producer husband Rick McKenna are selling their house in Armadale, less than 12 months after moving in.
Read moreWoolworths, which buys, sells, develops and holds real estate, said it is “ready and raring to go” with plans to
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A DISTINCTIVE Tudor style complex in Toorak Road, South Yarra, with five ground floor shops and an upstairs office, has sold for $6.7 million.
Based on the assets annual rent of $296,021, the 638 square metre building sold on a low yield of 4.4 per cent.
Knight Frank’s Marcus Quinn and Paul Henley sold the asset at 307 – 315 Toorak Road.
Mr Quinn said the property offers the new owner plenty of value-adding potential, covering just 50 per cent of the 1000 square metre land area.
Read moreTHE young entrepreneur behind the hugely successful Moonlight Cinema business, James Tutton, is turning his hand to property development.
Read moreSt Andrews Beach Golf Course and Resort will be auctioned after failing to sell during the economic downturn. Up for
Read moreCOMEDIAN Gina Riley is laughing all the way to the bank, selling her Armadale home for $650,000 more than she paid just 10 months ago.
Read moreHOTEL owners are finding more value in selling their property assets and cashing in on developer demand, than they are keeping them as entertainment venues.
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