Real Estate News

A gateway site – but to what, exactly, has been listed in Werribee. The 2.24 hectare tract at 246-248 Hoppers Lane, near Hoppers Crossing train station and with 200 metres of Princes Highway frontage, is zoned Commercial 1 and can make way for several 12-level structures. The vendor, businessman and professional poker player Charlie Balais,

A Melbourne syndicate is speculated to be paying more than $15 million for a five-storey office in a development hotspot near the top of Albert Park Lake. The South Melbourne asset, 71-73 Palmerston Crescent, was purchased as a value-add play. With a low weighted average lease expiry, it will now undergo a major refurbishment. The

EXCLUSIVE MYOB is seeking to sub-let the top two floors of its newly completed headquarters in Melbourne’s inner-east Cremorne. The software giant is quitting 2800 square metres – nearly a third – of the office it pre-committed to in 2018. Following its assignment, the Melbourne-based multinational-group will still occupy about 6000 sqm. This will accompany

EXCLUSIVE AFR Rich List member, technology entrepreneur George Kepper, via his investment business, KFT, has sold a prominent bottle shop asset in Melbourne’s Chirnside Park. Purpose built for, and leased to Dan Murphy’s which, with options, can stay until 2062, 2 Fletcher Street is understood to be trading for more than $12.5 million but this

EXCLUSIVE Tupperware has finally sold its Ferntree Gully headquarters – a landmark property it built 59 years ago. The plastic maker is banking just over $20 million from the deal. The purchaser is a company controlled by Kevin Ward, a prominent eastern Melbourne builder and investor responsible for the industrial redevelopment of the 12-hectare former

One of the hotels at the centre of Melbourne’s coronavirus spike has been listed for sale vacant after a deal last July fell through. Rydges on Swanston at 701 Swanston Street, Carlton, opposite Lincoln Square, is expected to trade for more than $40 million – about the same guide attached to it last year. The

EXCLUSIVE The YMCA has sold an upper ground floor piece of the 12-storey College Square student accommodation complex, in Melbourne’s Carlton. The 420 square metre space at 570 Lygon Street is speculated to be trading for less than $2 million but this could not be confirmed. With the potential to be configured and subdivided down

Private investor and developer Brendan Sullivan has flipped an inner south Melbourne office nine months after agreeing to buy it. The Royal Australian and New Zealand College of Obstetricians and Gyneacologists is spending $19.6 million on 1 Bowen Crescent, to occupy. Mr Sullivan bought the renovated investment for $17.5m. That vendor, IT entrepreneur and philanthropist

EXCLUSIVE Ford Australia has pre-committed to an 8.8 hectare distribution centre at the Merrifield Business Park, in Melbourne’s north Mickleham. In a twist, the landlords immediately sold the asset to Dexus Australian Logistics Trust for $73.5 million. The car retailer will consolidate several spare parts operations out of Campbellfield, which is about 15 kilometres closer

EXCLUSIVE Buyer advocate and The Block regular, Frank Valentic, pocketed more than $6.8 million – an Elwood record price – for his outgoing family home on Saturday. The Marshall White deal for 20 Normandy Road breaks the c$6.6m watermark set last month, when chef Teage Ezard offloaded his renovated and extended Federation in the next

TE Capital Partners has picked up the KTS House office in Melbourne’s CBD for $145 million. The 21-storey B-grade building at 350 Queen Street is trading on a 4.8 per cent passing yield. Colliers International’s Oliver Hay and Matt Stagg were the marketing agents. The precinct around the office is set to substantially activated when

EXCLUSIVE Blairgowrie has a new record house price – set four years after the last. The recently constructed and uber contemporary Made Build home at 16 Ritchie Avenue is understood to have sold for more than $4.4 million, but this could not be confirmed. The dwelling is a couple of hundred metres from 44 Knox

A developer has snapped up the East Melbourne home built in 1883 by Thomas Joshua Jackson, who with his cousin, Henry Young, owned Young & Jackson hotel opposite Flinders Street Station. Eblana, at 140-142 Jolimont Road, is trading for $6.45 million. Jackson’s wife, another cousin – Sarah “Sally” Cavanagh – lived at the home until

EXCLUSIVE PDG Corporation is seeking tenants for the retail component of a mixed-use complex it is building at Melbourne’s Queen Victoria Market. The 2000 square metre space will form the ground level at 91-111 Therry Street, part of a $450m extension which also includes a childcare centre, community meeting spaces and event rooms. A mid-rise,

Swinburne University is readying to sell a historic Melbourne CBD commercial building for which it paid a bullish $44 million last April. Invicta House at 226-232 Flinders Lane – a block from Flinders Street Station and Federation Square – was purchased for owner-occupation. Over seven storeys it contains 6472 square metres of gross building area