ARA Australia, the local arm of Singapore’s listed ARA Asset Management, intends to build a 21-level office as part of an $800 million makeover of its two hectare Southgate complex on the banks of Melbourne’s Yarra River. An application lodged with planning minster Richard Wynne also proposes a “re-invigoration” of the centre’s shopping and dining

A prominent island site – also a gateway to Richmond’s Bridge Road retail strip – is set to be replaced with a six storey apartment building. The Island, as the project has been branded, will include 10 dwellings – three of them spreading a full floor; the priciest asking just over $5 million. It will

The Chinese syndicate which three years ago bought Geelong Private Medical Centre from KPMG, a receiver representing National Australia Bank, is selling it with price hopes of more than $30 million. The vendors paid $17.8m – a memorable purchase some $10m less than was expected and reflecting a 10 per cent yield – but accepted

EXCLUSIVE Netball Victoria has sold its West Melbourne headquarters ahead of a move to Parkville’s State Netball and Hockey Centre next year. The double storey office on a 404 sqm plot at 487-489 King Street is speculated to be trading for $4.8 million. Less than a block from Flagstaff Gardens and 500 metres from the

EXCLUSIVE KordmaMentha, representing creditors for failed developer Steller, has sold a creek-side East Keilor block adjacent to the Essendon border. On a 1.3 hectare bluff extending from Craig Street to Rose Creek Reserve and Steel Creek, the property is speculated to be trading for about $5.3 million but this could not be confirmed. Steller is

EXCLUSIVE It is the end of an era in Carlton with the freehold of Irish pub Dan O’Connell Hotel being listed for sale with vacant possession – suitors including childcare centre, student housing or boutique accommodation operators. The Gothic venue built in 1884 at 223-227 Canning Street, at the south west corner of Princes Street,

A small development site on a busy West Melbourne corner a block from Flagstaff Gardens has sold for $2.7 million. Seven parties contested for 437-441 Spencer Street which was offered with plans, but not a permit, for a 17-storey, 88 suite hotel (artist’s impression, right). The parcel is at the south west intersection of Dudley

Newmark Capital is speculated to be paying about $120 million for the prominent David Jones menswear store in Melbourne’s Bourke Street Mall. The deal, mooted in early April, follows a public sales campaign launched last December. However a few months earlier, a pre-marketing announcement about the listing was leaked. In both cases, the historic seven

Cbus Property or Mirvac will be allowed to build a c$2 billion mixed-use village on outgoing public land described in 2012 by late lord mayor and businessman, Ron Walker, as “Melbourne’s front yard”. The high-profile 1.4 hectare holding being sold by the state government’s VicTrack – to one of two groups left on a shortlist,

Vicinity Centres has unveiled plans and lodged the first permit applications for a $2 billion mixed-use redevelopment of its prominent Box Hill Central sites, in Melbourne’s east. Affecting 5.5 hectares, the project will be identified by a 48-level tower, the suburb’s tallest, set to contain 366 flats, 7000 square metres of office area and ground

Sentinel Property Group has sold City West Plaza in Melbourne’s west to Cadence Property Group and Assembly Funds Management, the latter an entity part-financially backed by Sydney-based Westfield co-founders, the Lowy family. The Sunshine North homemaker centre at 484-486 Ballarat Road is trading for $39 million following an off-market deal negotiated by JLL’s Stuart Taylor

Postscript: the property sold on May 28, 2020 – two days after this story ran. Balaclava warehouse-turned-reception centre Red Scooter – which hit the market as social distancing measures were introduced, before being withdrawn – was relisted this week. The 333 square metre site at 25 William Street, seven kilometres south east of Melbourne, is

EXCLUSIVE In major Melbourne commercial property industry news, CBRE and one its highest profile and biggest billing agents, Mark Wizel, split today. The announcement comes 11 months after the agency poached Sydney broker Simon Rooney from JLL and drafted rules of engagement which, amongst other things, prevented colleagues nationally from competing on listings worth more

The high-profile Brunswick site with protected Melbourne CBD view lines over Princes Park has been listed for sale by its Chinese developer owner after four years of planning controversy. The 6465 square metre parcel known as 699-701 Park Street, but actually comprising multiple addresses, could trade for close to $40 million according to sources. Vendor

The investor who picked up an under-utilised Melbourne CBD apartment building on a one per cent yield in 2017 is ready to cash in after adding substantial value to the airspace. Dysin Investment Partners can expect more than $8 million for 21-23 Anthony Street which was listed for sale this week as a development site,

A row of old shops in Northcote’s Westgarth precinct, consolidated by interests associated with former Melbourne Football Club player turned developer Clint Bartram, sold for more than $3.3 million last week. The 783 sqm development site, 43-47 Simpson Street, was offered with permission for a four storey mixed use complex with 18 dwellings and three

Addiction treatment organisation Arrow Health has leased an unusual suburban office built into what was a hall connected to Armadale Uniting Church. The workplace, 86B Kooyong Road, Armadale, was “substantially” refurbished by the religious group about five years ago for occupation. Over two levels with 245 square metres of A-grade area – and offered with

Revered chef and restaurant owner Teage Ezard has found a buyer for his extended and renovated Elwood Federation a month before auction. The sale price of 10 Byrne Avenue is understood to be setting a suburb watermark – the guide being $6-$6.6 million when it hit the market a fortnight ago. The record has been

Architecture firms DKO and Slab have received unanimous council support for an eight storey commercial building in Melbourne’s inner north east Collingwood. The tower permitted for the 468 sqm Commercial 2 zoned block at 19 Down Street will contain 2275 sqm of offices, a café, gallery and theatre. Factoring areas for facilities and services, the

Amazon Australia has leased a 330 square metre warehouse at Melbourne Airport Business Park in Tullamarine. The space is for Amazon Flex – a business launched in January in Melbourne and Sydney. Similar to the way Uber employs riders to transport people and food, the app-based enterprise allows individuals with a vehicle to sign up