A local developer is paying $7.5 million for a Melton West farm abutting Melbourne’s Urban Growth Boundary. The 13 hectare rectangle shaped site at 557-599 Harkness Road is being encroached upon by housing estates to its north and east. To the west – outside of the UGB (where large scale building is not permitted) –

ASX-listed Stockland is paying $105 million for a major residential development play 32 kilometres north of the Melbourne CBD. The 89.5 hectare property, 975 Donnybrook Road, Donnybrook, was marketed as “the best Precinct Structure Plan (PSP) approved site” that direction of the city. Stockland intends to build a community with a school, recreation areas and

A South Melbourne office for sale two months ago asking $6.8 million traded on Thursday for $8.55 million after newly appointed agents instructed an auction campaign. Seven bidders – a mix of international, interstate and local developers, contested for 67-69 Palmerston Crescent before a crowd of more than a hundred. Currently configured as a double storey commercial building with 750

The University of Melbourne outbid 17 groups – a mix including private and institutional heavyweights – to acquire two neighbouring Carlton offices near its Grattan Street entrance. Opposite Lincoln Square, vendor Australian Red Cross was expecting to reap about $40 million from the disposal. Instead, it is banking a speculated $46 million – a price

Finnish cargo handling solutions group Kalmar Global has signed a three year lease for a Brooklyn industrial property. The occupier will pay starting annual rent of $215,000 plus GST for the 7531 sqm site at 571-579 Grieve Parade. With more than 100 metres to the street, the property is configured with a 110 sqm office,

Industry Superannuation Property Trust has pre-committed Sydney-based retailer Winning Group – which owns popular website appliancesonline.com.au – to what will be a purpose-built warehouse and distribution centre, in Melbourne’s west. Winning Group intends to move into the 45,000 square metre Altona North facility in 2021. It’s initial lease term is 10 years. The development will

A prominent seven hectare Calder Highway site – marketed as the last major building block in Melbourne’s Taylors Lakes – has sold for a speculated $5.5 million. The incoming owner, a local developer, intends to build a mixed-use predominantly commercial project on the parcel at the northernmost tip of the suburb, opposite Calder Park, Organ

Vantage Property Investments has acquired a largely vacant office at 574 St Kilda Road as a strategic play. The off-market $58 million deal was struck with SHL Nominees, controlled by members of Melbourne’s Lederman family which owns a substantial local property portfolio. Vantage PI managing director Matt Spring said its latest investment, acquired for a

Adairs – which earlier this month had a share price boost following its $A76.2 million acquisition of New Zealand children’s furnishings retailer, Mocka – is expanding in Geelong. The Australian speciality home retailer is renting all of the 697 square metre showroom at Waurn Ponds’ Geelong Homemaker Centre which was recently vacated by Supercheap Auto.

Mirvac has flagged a Brunswick site for its second Melbourne build-to-rent project. The developer last month settled on the acquisition of a 7063 square metre factory at 397-401 Albert Street (pictured, top) – a property it was first connected to buying in early 2017. Mirvac has also snapped up an adjoining low rise home on

A row of three shops in Melbourne’s inner east Richmond, has been snapped up by a Chinese developer for $5.51 million. The holding, 255-259 Bridge Road, sits between the near-new 10-storey Ark apartment complex and the Richmond Plaza, which is the subject of a major mixed-use, residential-based redevelopment. Steveway agents Steven Pantelios, Andrew Kolovos and

A Coles tenanted supermarket in Drouin, about 37 kilometres east of Pakenham, sold for $12.5 million at Burgess Rawson’s 133rd portfolio auction event yesterday. Interestingly, the vendor acquired the asset at 10 Hope Street three years ago at the agency’s 107th gathering. It cost $10.01 million, then. Covering a site area of 4874 square metres,

Peter Stevens Auto Dealerships sold its prominent 7.4 hectare Ballarat Central car yard to a local investor on a leaseback, banking $8.7 million. The 615 Midland Highway property contains a 4561 square metre showroom which in 2017 underwent a $5.1 million renovation. Peter Stevens has operated in the historic town since 1972. The Motorworld yard

Singapore’s listed The Straits Trading Company is paying Hong Kong based global logistics giant ESR $24 million for a Mulgrave business park. The 2.25 hectare L-shaped holding at 677 Springvale Road hit the market in July. It includes seven contemporary buildings with a total lettable area of 12,157 square metres, configured as office warehouses and

Sector Property Group has snapped up one of Huntingdale’s biggest commercial sites with plans to create a premium quality office and warehouse complex, which will be subdivided and offered for sale or lease. The first pieces of the former Acoustic Engineering Services (AES) headquarters at 26-28 Hargreaves Street – two large and high-quality warehouses –

One buyer has snared two adjoining apartment shells on the ground floor of St Kilda’s Gatwick Private Hotel – the subject of last year’s reality renovation television series, The Block. The $1.71 million deal was struck after a public auction on Saturday where the two unrenovated flats passed in for $1.62 million. When the units