Pace Development Group sells strata retail investment in Abbotsford’s St Crispin House

Pace Development Group has sold a strata retail investment on the ground floor of its recently completed St Crispin apartment complex in Abbotsford. The 250 square metre space, 249 Johnston Street, traded for $2.11 million to a South Australian. Leased to bottle shop Blackhearts and Sparrows for 10 years with fixed annual rises, the result

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Konfir Kabo banks $6 million-plus selling Gisborne service station after three hours

Three hours was what it took to seal a $6 million-plus deal for a service station in Melbourne’s north-west Gisborne. Property investor, lawyer Konfir Kabo, offered 23 Robertson Street in mid February. Quinn Reynolds’ Marcus Quinn and Lincoln Reynolds, with Appel Property’s Ben Appel as transaction manager, closed a deadline private sale campaign last Friday.

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Daniel Besen paying c$9 million for Fitzroy warehouse with development upside

EXCLUSIVE Businessman Daniel Besen is paying the owners of hairdressing product supplier Turnley’s a speculated $9 million for a prominent office/warehouse with development upside in Fitzroy. The asset, 1-9 Gertrude Street (pictured), near the north east corner of Nicholson Street and Royal Exhibition Building, was marketed to investors, owner occupiers and local and international developers

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Hoyts, Credabl amongst tenants to commit to Bayley Stuart’s 600 Church Street, Cremorne

Commercial property investment manager Bayley Stuart has enjoyed more leasing success at one of two offices it is constructing in Melbourne’s exclusive Cremorne. Hoyts, a subsidiary Valmorgan and Credabl – a Rialto-based loan service provider for doctors – will join already reported occupiers, Axil Coffee Roasters, Victory (serviced) Offices and Nine Entertainment’s Domain, at 600

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Dennis family’s Ranfurlie Asset Management pre-commits Bunnings to Tarneit Park Hub

Ranfurlie Asset Management, the Dennis family’s retail and commercial division, has pre-committed Bunnings to a 16,500 square metre outlet at its proposed Tarneit Park Hub. With that lease, stage one of marketing for the 46,000 sqm project is complete. The hardware store (artist’s impression, top) is due for completion at the end of the year

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Leaf Corp creates high yielding investment renting former Target HQ to Gateways

The North Geelong property owner-occupied by Target as its headquarters for more than 40 years, until 14 months ago, has been rented to not-for-profit agency, Gateways Support Services. Teska Carson and Colliers International brokered the 10-year deal for 11,108 sqm of office space. It is understood the occupier, an autism support specialist, is paying about

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Prahran warehouse owner-occupied for 130 years sells for $6.635 million

A mixed-use complex comprising offices and residential, possibly above retail, is expected to replace one of Prahran’s highest profile sites, which sold at a well-attended auction yesterday. The AW Hinton & Sons building at 49-51 Izett Street was knocked down for $6.635 million – or $1.235 million over reserve. Vendor the Hinton family had owner-occupied

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Sorrento’s Continental Hotel for sale as “clean proposition” by receiver PKF

Sorrento’s Continental Hotel on Victoria’s exclusive Mornington Peninsula is on the market for the third time in four years. Being promoted by the receiver as “a clean proposition”, it is backed by a permit for an $80 million mixed use redevelopment which is part constructed. The listing follows a Victorian Supreme Court verdict yesterday setting

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Black Rhino Group pays more than $12 million for Ballarat’s historic Craig’s Royal Hotel

Black Rhino Group, directed by Dave Tomsic and his wife, Deborah-Mathieson Tomsic, the daughter of prominent publican, Bruce, has paid more than $12 million for Ballarat’s imposing Craig’s Royal Hotel. The renovated complex developed in 1853 at 10 Lydiard Street South is Black Rhino’s 15th Victorian asset. Elsewhere in the regions it owns Seymour’s Railway

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Charter Hall pre-commits Uniqlo Australia to 46,000 sqm Truganina distribution centre

Uniqlo, which started trading in Australia in 2014, has pre-committed to a 46,000 square metre distribution centre at Truganina, in Melbourne’s west. The $28 billion fashion empire has signed a 10 year lease for the facility to be developed by early 2021, and retained by Charter Hall Prime Industrial Fund (CPIF). The investment is earmarked

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