Fortis is paying $19 million for a Richmond development site behind hotel Union House. The arm of Sydney-based Pallas Capital has earmarked the 1298 square metre parcel at 2-8 Brighton Street for a 10-level complex with apartments, offices and retail. The holding offers south facing view security over the train line near East Richmond station.

A house at the western edge of Toorak Village – opposite a six storey apartment building – has sold to a residential developer for $5.1 million or 10 per cent over guide. The Toorak parcel, 410 Toorak Road, received nine written offers following an expressions of interest campaign which closed on November 4. Morley Commercial’s

EXCLUSIVE Daniel Besen has submitted plans for a mixed-use building which will dub as the Besen headquarters, in Melbourne’s inner north Fitzroy. The brick proposal with five inset levels is shorter than many agents were expecting when the developer paid $8.91 million for the 899 square metre Commercial 1 zoned plot at 1-9 Gertrude Street

Melbourne Airport Corporation has pre-committed CSL-backed cell-based vaccine and antivenom manufacturing group Seqirus to what will be one of Australia’s largest industrial properties – nearly 1.5 times the size of Rialto Towers. The key factor for the tenant was location – specifically, the ability it will provide to quickly fly out supplies all day every

Credit Suisse Asset Management is speculated to be selling a Melbourne CBD office for nearly $160 million as it continues to reweight its national commercial real estate portfolio. An offshore investor is undertaking due diligence on 505 Little Collins Street according to sources. The property hit the market in September – at about the same

Two healthcare investments near Knox Private Hospital, in Melbourne’s east, are changing hands. In the biggest and most recent deal, a Hong Kong buyer is paying $5 million for a modern, four level medical centre at 169-171 Stud Road, Wantirna South, fit out for five businesses including a physiotherapist, dentist and lymphoedema clinic. Also with

A seven square metre lift shaft converted into a commercial space has been tenanted to a boutique hot chocolate maker for a starting annual rent of $17,000. The leasing agency advised the owners of 107 Elizabeth Street, in the Melbourne CBD, to create the ground floor area by cutting out a window to the disused

Aged care veteran John Matthies is selling the prominent Phillip Island site which for decades accommodated the Isle of Wight hotel. The 8625 square metre Cowes parcel is being marketed in one line with a guide of $10.8 million. It is also being offered as up to five lots – two of them waterfront, the

Pace Development Group is selling adjoining North Melbourne properties including the former Chubb Security headquarters on Racecourse Road abutting a Citylink onramp. The amalgamated holding spreads 1.3 hectares. One component – covering 6515 square metres – comes permit ready for two apartment complexes of 11 levels, which would be the tallest in the precinct. Pace

Fitzroy Community School has paid more than $3.2 million for Carlton’s historic Dan O’Connell Hotel which is expected to be converted into a campus. At 223-227 Canning Street, on the south west corner of Princes, which is the Carlton North border, the property was listed vacant in May. Spreading 531 square metres the airspace was

The Malaysian consortium which five years ago acquired Yooralla’s then-outgoing Melbourne CBD headquarters is selling after obtaining a permit to replace the airspace with a hotel. Built in 1936 for Snows Department Store, 244-248 Flinders Street is expected to trade for more than $45m ex-GST. The ownership group, Moremas Land, initially applied to raze the

The Victorian government’s Department of Treasury and Finance has taken over a six year lease from multinational Jardine Lloyd Thompson at Charter Hall’s 570 Bourke Street. The 2757 square metre space is A-grade and fitted. It was offered by Marsh, which relocated the insurance business to its Docklands headquarters after consolidating two years ago. CBRE’s

The Family Court of Australia in Dandenong is for sale again. The investment, 53-55 Robinson Street, hit the market in late 2018 for over three months before being withdrawn. At the time, the guide price was $10 million-plus. Following this campaign, CBRE’s Scott Orchard, Scott Hawthorn and Jimmy Tat with Gross Waddell’s Michael Gross and

Jati – established in a Canterbury garage 36 years ago by a teacher who manufactured outdoor teak furniture on weekends and is now one of the country’s largest suppliers of this product – has leased a Brunswick showroom/warehouse until recently mooted for a cinema. The renovated 1165 square metre building at 1-5 Weston Street, opposite

The Victorian planning department last month approved another six shovel-ready projects. With an end value of $625 million the proposals have a commercial focus. It brings to $7.5 billion the worth of investments permitted by the government since March. Premier Dan Andrews last week flagged he would soon give the green light to a major