Real Estate News

Ten year old south east Melbourne convenience retail centre Beaconsfield Hub has sold for a speculated price of $8.5-$9 million. The asset hit the market in July – fully occupied returning annual rent of $600,000. By the time it traded, one of the nine subdivided stores – representing about eight per cent of the complex’s

EXCLUSIVE IKEA is selling Campbellfield’s ex-Pipeworks Market. The Scandinavian retailer agreed to purchase the property from Babcock & Brown 10 years ago with plans for a 41,000 square metre freestanding outlet – its biggest in the Southern Hemisphere, to open by 2012. Despite then-planning minister Justin Madden approving the $170 million proposal, construction never started.

Leisure Management Group’s headquarters, in a residential Ascot Vale pocket, has sold to for a speculated $11 million. The battle-axe shaped site at 9 Newsom Street was offered by a local private investor permit-ready for 38 large townhouses. Also with frontage to Hurtle St, the land is opposite Mirvac’s recently completed $160m Enclave housing estate,

The children and grandchildren of late Sir Cecil Looker have listed a 434 hectare Beveridge property held by the family since 1966. The development site, at the top of a northern Melbourne growth corridor, can make way for more than 1000 dwellings and up to $1.2 billion of commercial product, according to the marketing agents.

Cor Cordis – as mortgagee in possession – has listed another Box Hill precinct development site formerly controlled by international school Canaan. The 1004 square metre parcel at 13 Prospect Street, Box Hill, is expected to sell for about $8 million. Leased short-term to Hutchinson Builders, it is zoned Commercial 1 and earmarked with the

After a metropolitan-wide search, Thermomix will move into a modern office/warehouse owned by Goodman at Moorabbin Airport’s Chifley Business Park. The kitchen product manufacturer and distributor was represented by CBRE’s Lachlan Ferguson and Fergus Pragnell – the latter who markets Melbourne’s western suburb industrial sector. The agents said they collaborated to “cover off all options”

Uniting is selling two formerly occupied properties as development sites, in Melbourne’s inner-south. At 698-700 Malvern Road, Prahran, a 920 square metre parcel which also fronts Molesworth Street, where it is adjacent to Orrong Park, is expected to sell for about $3.7 million. Zoned Residential Growth, it could make way for a four storey building

Jeff Xu’s Golden Age Group is selling the development site acquired two years ago for its first low-rise residential project. The 21-hectare parcel comprising 520-556 and 558-578 Greigs Road (pictured, right) has been listed alongside a neighbouring 22ha tract (outlined from the same angle in image below, right) – creating a holding at the north

Box Hill South’s former St Leo’s College is for sale as a medium density residential development site. The five hectare parcel at 15-31 Hay Street, 14 kilometres east of Melbourne, could trade for up to $70 million. The land very briefly hit the market before being withdrawn in 2016, two years after vendor Canaan International