Historic, high-profile Balaclava corner building sells for $7.5 million at hot auction

A high-profile, historic red brick building within Balaclava’s popular Carlisle Street retail strip sold at auction last week for $7.5 million. More than 100 attendees sweated through the event held onsite in 38 degree heat with a northerly gale. The double-storey, 515 square metre retail building with upstairs office occupies a 368 sqm Commercial 1

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Centuria pays $27.8 million for twin suburban Melbourne offices

Centuria Diversified Property Fund (CDPF) has added twin suburban Melbourne offices to its mushrooming real estate portfolio. CDPF is paying Stronghold Investment Services $27.8 million for the neighbouring buildings at 13-15 Compark Circuit in Mulgrave. The vendor paid $21.5 million for them in early 2017. Covering a site area totalling 8334 sqm, the offices contain

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Sotheby’s International Realty to spread its wings under new management in Victoria

Prestige real estate agent Rob Curtain (pictured, right) has snapped up the master franchise of the Sotheby’s International Realty business in Victoria. The deal with Geoffrey Smith and Gary Singer, the latter a former Victorian lord mayor who has operated Sotheby’s Australian art house since 2009, is speculated to be worth about $1 million. It

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Leaf Corp pays $3.4 million for strategic North Geelong block next to ex-Target HQ

Eleven months after paying Wesfarmers $10.6 million for the former Target headquarters in North Geelong – developer Leaf Corp has snapped up a neighbouring 9275 square metre block of dirt. The $3.4 million deal for 6 Thompson Road sees Leaf Corporation’s holding increase to 4.7 hectares and become L-shaped. It doesn’t give Leaf Corp a

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Salta, Wolf Capital, unveil 14-storey apartment tower at the top of Hoddle Street

Construction of a second major apartment building at the top of Hoddle Street could begin shortly. Joint venture partners Salta Properties and Wolf Capital this week launched a marketing campaign spruiking the proposed 14-storey Fitzroy North complex to be known as 249QP. Wulff Projects will be the development manager. With ground floor retail, the tower

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Veriu pre-commits to four Australian hotels for its Punthill brand – three in Melbourne

Boutique hotelier Veriu has pre-committed to four venues on Australia’s east coast – a move which will grow its burgeoning portfolio by 235 rooms. With each development, the land-owner will cover hotel construction costs. Upon completion, in 2021, all will be leased long-term to Veriu for its Punthill brand. The landlords would then have the

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Sunshine should be to Melbourne what Parramatta is to Sydney: Steve Bracks spruiks new report

Former Victorian premier Steve Bracks was today the public face spruiking a new report proposing Sunshine become the capital of Melbourne’s west. Sunshine – Daring to be Different – aims to take advantage of the suburb train station becoming a stop-over for commuters using the proposed Airport Rail Link, construction of which is expected to

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Melbourne’s landmark Festival Hall for sale as live entertainment venue, urban renewal play

EXCLUSIVE The landmark Festival Hall – Melbourne’s eighth largest live entertainment venue ranked by capacity – is quietly being marketed for sale. It is the first time in more than a century that the high-profile block (pictured, above and below) has been offered. Included in the deal is the multi-purpose arena at 300 Dudley Street

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Two ‘secret’ apartments within St Kilda’s Gatwick Private Hotel for sale targeting renovation rescuers

Julian Cress, the producer of Nine TV show The Block, is set to squeeze a profit selling more of the real estate created out of St Kilda’s historic Gatwick Private Hotel which was the subject of last year’s series. Two ‘secret’ apartment shells on the ground floor of the building at 34 Fitzroy Street were

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Steller receiver banks c$6.5 million from site earmarked for Frankston’s tallest tower

EXCLUSIVE McGrathNicol has sold a high-profile Frankston development site until recently controlled by Steller, which went into receivership in July. The 3301 square metre plot at 6-12 Davey Street – just over a hundred metres from the beach – was between 2014 and 2018 set to make way for a 17-storey apartment building, which would

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Change of marketing strategy sees Pearse family offload Richmond holding after 60 years

EXCLUSIVE The Pearse family has finally sold a T-shaped super-site of two neighbouring blocks near the busy corner of Church and Highett streets in Melbourne’s inner east Richmond. Offered for sale late last year as a whole – where it bombed at auction – the vendors appointed Savills’ Nick Peden, Jesse Radisich and Mark Stafford

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Frank and Sharon Van Haandel list renovated Toorak manor

Hospitality veterans Frank and Sharon Van Haandel are selling their contemporary Toorak home – asking between $11.2-$12 million – and downsizing. The pair paid catering entrepreneur Peter Rowland $8.65 million for 7 Ottawa Road in March, 2017. It has since undergone a major renovation, with interiors by Fiona Lynch. The 18th century French Provincial-style residence

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Investor pays $4.8 million for industrial property leased to Crown Casino

A Sunshine West industrial property tenanted to Crown Melbourne Limited, which occupies it as a storage and distribution centre servicing Crown Casino, has sold for $4.775 million. The expressions of interest campaign for 54-58 Vella Street generated over 30 enquiries, according to CVA agents Daniel Philip and Anthony Carbone. Four formal offers were received. The

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