Russell Morris to Sell Balwyn Home
Former Hawthorn and St Kilda footballer Russell Morris is the latest AFL identity to bid farewell to the leafy eastern suburb of Balwyn.
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Paul Little Buys South Yarra Office Building
Proving that private investors haven’t been muscled out of the commercial property market by listed property developers, just yet, Toll Holdings managing director Paul Little is believed to have paid $33 million for a B-grade office building in a bustling pocket of South Yarra.
Read moreBrighton Property Prices Increase for Warne Family
Proving time has its rewards in Brighton’s real estate game is cricketer Shane Warne, and entertainer wife Simone.
Read moreGrocon Deals With Controversial Planning Controls
Planning controls have come under the spotlight again, after it was revealed this week developer Grocon will bypass public consultation over its redevelopment of a 2 hectare site on the CBD fringe.
Read moreWoodards, Bionics form partnership
Boutique real estate agency Woodards last week launched its partnership with the Bionic Ear Institute at a special function held at the Melbourne Cricket Ground.
Read moreMichael Buxton’s former Brighton home sells
A Brighton home once owned by property developer Michael Buxton has sold a week before auction. Four Kinane St is
Read moreGoodman Opens Hi-Tech Facility in Notting Hill
Goodman Group (“Goodman”) is pleased to announce Heidelberg Australia/New Zealand (HAN) have commenced occupancy at Ferntree Business Park, Notting Hill.
Read moreBaycrown to Develop East Doncaster Site
Residential developer Baycrown Pty Ltd has paid $2.55 million for a residential development site in East Doncaster with a permit for 38 residential apartments and 49 basement car spaces.
Read moreBroadmeadows Development Site Sells
JR and Sue Ellen were nowhere to be seen, but in Dallas, Melbourne this week, at least one private investor found himself filthy rich.
Read moreThe Future of Melbourne’s Northern Suburb Office Market
Melbourne businesses ambassadors including television personality Eddie McGuire and Crazy John founder John Ilhan will be guests at a luncheon next month, discussing the future of office accommodation in Melbourne’s northern suburbs.
Read moreMacmillan Press Building South Yarra to be Sold
Hot on the heels of the $33 million sale of ANZ’s Data Centre on Toorak Road, private developer Michael Yates is about to sell a part of his substantial South Yarra property portfolio, in a deal which could net him about $15 million.
Read morePlus Architecture Wins New York Contract
Boutique Melbourne-based architect firm Plus Architecture is about to make its mark on the big apple, winning a contract to design a cultural centre in New York.
Read moreWarranbine Mansion, Camberwell, Sells
The sprawling Camberwell mansion once connected to the prominent Baillieu family has sold, for a price believed to be around $3.1 million.
Read moreHawthorn Volkswagen Snapped up by Private Investor
It’s not unusual for Volkswagen dealers to see the odd millionaire walk through its showrooms. But few could have imagined the sheer net worth of investors “tyre kicking” its Hawthorn dealership, which was recently put to the market.
Read moreMAB Corporation Sells Floor of 999 Nepean Highway Office Building
MAB Corporation has sold an entire strata floor at its 999 Nepean Highway office building redevelopment for $3.575 million to an undisclosed private investor.
Read moreDocklands Building Wins 5-Star green Star Rating from Green Building Council of Australia
The Green Building Council of Australia this week accredited an unbuilt Docklands office building with a 5-star Green Star – Office Design rating.
Read moreLachlan Thompson Represents JLL International Rugby Tournament Asia
Commercial property agent Lachlan Thompson returned to Melbourne with a winner’s trophy earlier this month, after representing Jones Lang LaSalle at an international rugby tournament in Asia.
Read morePaul Lynch sells South Yarra restaurant
Paul Lynch sold his landmark South Yarra restaurant last week. The auction topped at $5.3 million. The 462 square metre
Read moreSouthgate Footbridge to Become Bar
Tens of thousands of city workers and residents who walk over the Southgate Footbridge everyday will soon have a place to stop in for a half-time break.
Read moreSailor Lou Abrahams Sells Brighton Luxury Apartments
Residents in the millionaires playground of St Ninians Court in Brighton will at last see what all the fuss is about at # 9, when veteran yachtsman turned property developer Lou Abrahams unveils his luxury apartment project.
Read moreOwners of Chapel Street Tokyo Tepanyaki to Sell Albert Park Home
The owners of Chapel Street dining institution Tokyo Tepanyaki, are selling a triple storey terrace home at 148 Beaconsfield Parade, Albert Park.
Read moreRetired Test Cricket Umpire Tony Crafter Sells Out of East Melbourne
Retired Australian Test cricket umpire Tony Crafter expects prospective buyers to be bowled over by his boutique apartment, in one of the city fringe’s most secluded pockets.
Read moreNew St Kilda Road Apartment Record
An undisclosed international business identity has paid a record $8.59 million for a luxury St Kilda Road apartment.
The sale price eclipses the $8.325 million record set by Wimbledon ace Lleyton Hewitt in 2005, for the Yve penthouse on levels 19 and 20, at 576 – 578 St Kilda Road.
Read moreTree Change for Australand Executive
A phone call to a Yarrawonga real estate agency earlier this year, inquiring about a price of waterfront land – has resulted in Australand executive Andrew Shell and wife Mandy committing to the biggest change of their lives.
Read morePrivate Investor Pays $13 million for CBD Retail Investment
Sale results for CBD retail assets continue to defy explanation, with a small arcade of shops, on a prominent corner diagonally opposite the State Library of Victoria, selling at auction for $13.05 million, more than $5 million over its reserve.
Read moreWestern Suburb Homemaker Centre Sells
A bulky goods centre at a busy Westgate Freeway offramp has sold to a local private investor, for a price understood to be more than $10 million.
Read moreReal Estate Institute of Victoria Excellence in Property Awards
Colliers International and Dixon Kestles won two of the highest accolades for a commercial agency at this year’s Real Estate Institute of Victoria Excellence Awards, held at Crown Casino on Thursday October 18.
Read moreSt Hilliers to Sell Coburg Industrial Asset
One of the country’s biggest private development companies, St Hilliers, is understood to have sold a large Coburg industrial asset for $11 million, as it continues to sell off properties in its Enhanced Property Fund No 2.
Read moreChampion Compressors Signs for Former Mistral Factory in Dandenong South
Champion Compressors has signed one of the biggest industrial lease deals in the south-eastern suburbs for the year, taking almost 11,000 square metres of space recently vacated by electrical manufacturer Mistral.
Read moreAnsett Office Opens as Residential and Retail Mecca
Six years after the famous collapse of Ansett – the airline’s substantial landholding at the northern tip of the CBD has been fully redeveloped into a residential, retail and entertainment mecca.
Read morePamela Anderson House Fails to Sell at Auction
Whether residents want to admit or not, St Kilda West’s most prominent home is not on Beaconsfield Parade. Nor is it on tree-lined Mary or Park Streets.
Read moreKador Group to Sell 312 St Kilda Road Office Building
Less than a month after securing ASX-listed healthcare operator Healthscope as a major tenant at its Gateway office building at 312 St Kilda Road, property owner Kador Group has put the asset on the market.
Read moreSwinburne University to Sell Property Around Hawthorn Campus
Tertiary institution Swinburne University has confirmed it will sell an office building and development site across the road from its Hawthorn campus.
Read moreMore Apartment Towers for Docklands
Lend Lease is the latest developer to announce plans for a new residential tower in Docklands, giving prospective buyers another apartment to add to their shopping list next year.
Read moreDandenong Ranges Mount Royal Manor for sale
One of the Dandenong Ranges most imposing homes was put to the market this week.
Mount Royal Manor, a 143 square mansion set on two hectares of manicured gardens at 1317 Burwood Highway, Upper Ferntree Gully, is expected to sell for around $6 million after an international marketing campaign.
Read moreHorse trainer wins Cox Plate, sells Malvern East home
It was a double dose of good news for trainer Colin Little yesterday, who on top of winning the Cox
Read moreNew Price Record Expected for Ormond
Insiders say a new price record is likely for the understated south-eastern suburb of Ormond later this month.
Read moreCathy Freeman May Rent Out Brighton Home She Just Bought
The fastest rumour doing the rounds this week is that Olympic runner Cathy Freeman will not move into the Brighton home she bought in September last year.
Read moreAdvertising boss sells Toorak mansion
Melbourne’s prestige residential market seems to be going from strength to strength, with the sale yesterday of 774 Orrong Road
Read moreToorak Estate of Art Collector Alex Copland Goes Under the Hammer
Collectors of fine art, and fine property, have a week until March 3 to inspect the Toorak mansion of art collector Alex Copland before it goes under the hammer.
Read moreNeighbours Actress Helps Sell Kew Home
Spectators at a recent twilight auction in Kew were treated to a bit of street theatre, with television actress Anne Scott Pendlebury (who played Aunt Hilary in Neighbours for more than ten years, and was also a star in Prisoner) dressing up in garb and greeting the crowd with cold drinks and stories, spoken in a plebian cockney accent.
Read moreGrollo family offloads more coastal real estate
The Grollo family is continuing to sell coastal Victorian assets, this time at St Andrews. Adam, son of Bruno, is
Read moreWhat Will Become of the Warne Brighton Property Portfolio?
All eyes turn to Brighton this week, and the matter of what King Shane and Queen Simone will do with their substantial property holdings, now that things appear to be on the mend in the Warne-Callaghan camp.
Read moreLack of Prestige Residential Rentals Volley Tennis Players to Hotels
The days of tennis players renting a luxury home for their stay at the Australian Open are all but gone, according to agents, because rich home owners simply don’t need the money.
Read moreBusiness Heavyweights Buy Into Sorrento Apartment Project
The most expensive apartments to be built on the Mornington Peninsula look unlikely to ever be offered to the public – with some of Melbourne’s biggest business identities flagging almost all of the units on offer, just weeks after the complex was given a permit.
Read moreBrighton record breaker no longer needs the beach house
Who needs for a getaway when your Melbourne home has all the luxuries of a resort and is on the
Read moreUnderworld figure’s Brunswick site for sale
A Brunswick development site once owned by fugitive drug dealer Tony Mokbel will be listed later this month. On Breese
Read moreMetricon beats Henley, Simonds, for top spot
Metricon has again finished the financial year as Victoria’s largest home builder, with 1,475 starts. Henley Properties followed (1,248), with
Read moreTV Personality Sells Milford Mansion in Kew
A Victorian couple has outbid two international parties for the landmark Milford mansion in Kew.
The Italianite mansion, built in the height of the 1850s gold rush, sold for in excess of $4 million after an international marketing campaign which saw five parties hotly contest the property to the very end.
Read moreFormer Labor Minister Sells Home in Thornbury
Former Labor party MP and the third women ever to be elected as a minister in the lower house Kay Setches, is selling the Edwardian terrace in Thornbury she’s called home for 7 years and preparing for a move to Docklands.
Read moreCathy Freeman Buys in Brighton, Sells in Kew
Agents have confirmed Cathy Freeman is the mystery buyer of a Roslyn Street Brighton mansion. The Olympic Gold medalist is said to have paid $2.2 million before auction, and will move in later this year.
Read moreWestern Bulldog Footballers Buy in Maidstone
The western suburb of Maidstone may soon have enough professional footballers to make a team, with Private Property learning four Western Bulldog players have bought into Essence, a new estate being developed by the Stockland group.
Read moreShane Warne’s Middle Crescent Brighton Home on the Market
Industry insiders have confirmed that Shane Warne’s Brighton home is being quietly marketed for sale. The news comes weeks after estranged wife and television identity Simone Callaghan started rebuilding a house she bought in nearby Albert Street earlier this year.
Read moreDeveloper Wilbow Buys Second Residential Development Site in Doreen
It was fun the first time – thats the motto doing rounds at Wilbows Hawthorn headquarters, with the developer this week announcing it picked up a second development site in the north east suburb of Doreen.
Read moreWestpoint Receivers, Mattioli Sell CBD Development Sites
The list of Westpoint assets coming onto the market continues to grow -all the while giving a second bite of the cherry to developers who missed out on those sites not long ago.
Read moreLachlan REIT Leases Heidelberg Building to Hagemeyer Asia Pacific
Leighton Leasing Activity
Lachlan REIT this week announced a string of national lease deals which see two of its four funds become fully leased. The biggest Melbourne deal is the re-signing of Hagemeyer Asia Pacific to 456 Lower Heidelberg Road in Heidelberg for six years. The electrical distributor, responsible for brands including Smeg and Blanco, leases 3,617 square metres of the property.
Read moreSouth Pacific to Build iQ Student Accommodation
With the number of international students in Melbourne university’s growing each year, developer South Pacific has unearthed a niche for premium quality student accommodation in Carlton.
Read morePort Melbourne Film Studio to Make way for Apartments
The Port Melbourne studio that shot award winning films Shine, Muriel’s Wedding and The Man From Snowy River is set to make way for a residential conversion.
Read moreHome Near Neighbour’s Fictional Ramsay Street Comes on the Market
Everybody needs good neighbours, and that’s what’s on offer in Vermont South, just a hop skip and a jump from Erinsborough’s fictional but world famous Ramsay Street, known locally as Pinoak Court.
Read moreArchbishop Little Former Essendon Home on the Market
North of the Yarra River, blue ribbon real estate doesn’t come much more exclusive than Leslie Road and Riverview Road in Essendon. So when a house at the corner of these tree lined boulevards becomes available – it’s the talk of the town in bomber land.
Read moreAnother Bathing Box Comes to the Market
To Melbourne’s bourgeoisies, nothing spells exclusivity like a bathing box.
Read moreMax Beck’s Kinane sells for Brighton record
Kinane, the 6-bedroom mansion on a prime parcel of Brighton’s waterfront has broken the record for the most expensive home in Brighton.
Read moreJazz Festival Director Sells Home
The Kew home of Jazz Festival director Michael Tortoni has sold before selling agent Jason Scillio of Kay and Burton even had time to lodge the first advertisement. The property, on a parcel of more than 2100 square metres, is believed to have sold for around $3.5 million dollars.
Read moreSt Kilda Road’s Yve Apartment Tower Wins Award
The distinctive Yve apartment project on St Kilda Road has won the 2006 Victorian Architect Medal, in a ceremony held on Friday night at the National Gallery of Victoria.
Read moreLasseters International Close to Buying Holiday Inn, Melbourne, For $44 Million
MELBOURNE’s Holiday Inn Hotel in Flinders Street is believed to be close to sale to Singapore’s listed Lasseters International Holdings.
Lasseters is understood to be paying about $44 million fo the 4.5 star, 200-room hotel, which is being offloaded by Eureka Funds Management.
Eureka purchased the Holiday Inn, and eight other hotels as part of the $390 million purchase of the InterContinental Hotel Groups portfolio in 2005.
Read moreLend Lease Appointed to Develop Melbourne’s $870 Million Fruit, Vegetable and Flower Market, Epping
LEND Lease has been named as preferred builder, to develop Melbourne’s wholesale fruit, vegetable and flower market in Epping.
Victorian Major Project Minister Tim Pallas made the announcement today, saying the $870 million project will create about 600 jobs.
The move will also give the government a swag of inner-city land parcels to consider selling, or developing. Much of the land is located in Melbourne’s inner-west, between the Docklands precinct and Footscray.
Read moreRMIT’s Outgoing Building 87 to be Sold With Permit For 50-Level Apartment Tower
A CBD building, offloaded by the Royal Melbourne Institute of Technology five years ago, has been listed for sale this week as a major residential development site.
The 410 Elizabeth Street office, known to RMIT staff and students as Building 87, will be sold with a development permit for a 50-level apartment building, capable of accommodating hundreds of units.
The property is owned by developer Michael Buxton, who paid RMIT $8.25 million for the office in 2004, before working on obtaining a residential development permit.
Crown Casino to Sell Crown College Facility, City Road Southbank
CROWN Casino’s outgoing Crown College training facility in City Road is expected to be sold and developed into a major apartment project.
Sources say two adjoining buildings between 141 and 155 City Road will be surplus to the casino’s needs once it relocates Crown College into the $300 million distinctive Crown Metropol hotel, which has been under construction all year.
Crown declined to comment about mounting speculation it is formalising the sale of the properties on the corner of Power Street, ahead of relocating the College.
Victoria’s Biggest Builders Increase Market Share in 08/09
FIGURES released this week by the Housing Industry Association show Victoria’s biggest builders have managed to increase their market share despite the bleak economic backdrop.
The HIA said of the 41,818 home starts in Victoria for the 2008-2009 financial year, the state’s biggest 20 builders built 13,282 dwellings, compared with 11,727 dwellings in the previous year, when a similar number of new homes were constructed.
The HIA said Victoria’s top 20 builders now have a 32 per cent share of the market, compared to 28 per cent last year.
Read moreDFO South Wharf, Melbourne, to Open October 15
MELBOURNE’s $750 million South Wharf project, at the point where Southbank meets Docklands, will become the city’s next DFO (Discount Factory Outlet).
The owners of the South Wharf and Spencer Street DFO outlet, Austexx, have confirmed a two year rumour that the 60,000 square metres of retail space within the South Wharf complex, will accommodate existing Spencer Street DFO tenants, and then some.
The Spencer Street DFO shopping centre will be refitted and rebranded simply as “Spencer Street”, once DFO tenants start relocating from October 15.
Read moreVCAT approves tower behind Melbourne High
THE Victorian Civil and Administrative Tribunal has approved a high rise residential building abutting Melbourne High School. With 100 apartments,
Read moreMelburnian penthouse sells for $15.4m
A penthouse at the high-end Melburnian complex has sold for $15.4 million. The price is more than $5m over the
Read moreAustralian House Prices Tipped to Rise in 2010: RBA
RESERVE Bank of Australia head of economic analysis Tony Richards has warned Australian house prices will rise in the next 12 months, putting pressure on housing affordability – despite imminent interest rate rises.
At a Committee For Economic Development of Australia conference yesterday, facilitated by The Australian newspaper, Dr Richards said: “It is looking increasingly clear that Australia has avoided the large falls in house prices seen in some other countries over the past two years or so.”
Read moreMelbourne City Council to Consider Shifting East Melbourne Suburb Border, to Appease Angry New Residents
THE Melbourne City Council will meet on October 6 to discuss shifting the suburb boundary of East Melbourne, to include a 19-level unique glass apartment building, built over train tracks, near Federation Square.
Residents have started moving into the prestigious project, which was marketed by developer Becton as “ONE EAST MELBOURNE” – but is in fact in an area defined as ‘Melbourne’, and arguably worth a lot less.
Read moreRose Porteous to Sell Toorak Pad, Again
FLAMBOYANT socialite Rose Porteous has listed her Toorak home for sale, again.
The 60-year old grandmother, who with husband Willie purchased her first Melbourne home in 2005, could reap as much as $7 million for the three-bedroom plus study home, on a 650 square metre block in ritzy Irving Road.
Rose paid a reported $4.9 million for the home in July 2007, before undertaking a renovation. The home includes a double height entrance hall with return staircase, formal and informal living and dining rooms, several private courtyards, and a triple car garage.
Iris Lustig-Moar Sells Lucient Penthouse Shell
BUSINESSWOMAN, and BRW Rich 200 member, Iris Lustig-Moar has made about $4.75 million from the sale of an apartment shell, adjoining her own penthouse, on top of the luxurious Lucient building, at 430 St Kilda Road.
The co-director of architect and development firm Lustig & Moar, had originally planned to incorporate the apartment into her own, to create a super-penthouse some speculate could have had an end value of more than $12 million, and be one of the most expensive in the boulevard.
Number of Retirement Village Units in Australia to Double by 2021: Ernst & Young
BY 2021, Australia will have twice the number of retirement village units than it does now, according to a new report by advisory firm Ernst & Young.
EY Real Estate Advisory Partner Marcus Willison said a new study, based on population trends in Australia and New Zealand, suggests Australia’s stock of retirement village units will increase by about 60,000 to more than 128,000 by 2021.
He said “the ageing population trend within both Austalia and New Zealand will have a marked impact upon the growth of the retirement village industry, with the number of people aged 65 and over forecast to double and triple in both countries within the next 35 years.”
Read moreCentro Sells Rosebud Shopping Centre For $13.14 Million
The beleagured Centro Properties Group has offloaded a shopping centre in the small Victorian coastal hamlet of Rosebud, about 80
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Melbourne Uni Pays $30 Million For New Carlton Office Building
THE University of Melbourne is continuing to seize properties around the northern city-fringe, this time paying about $30 million for the brand new C100 office complex in Carlton.
The University is believed to have made an offer to purchase the flash nine-level office at 100 Leicester Street last month, after negotiations to lease the entire 6,783 square metre building, fell through.
The University of Melbourne manager corporate affairs Christina Buckridge said C100 will accommodate the new Melbourne Graduate School of Education. She said the building is being fitted out, and will be occupied from early next year. The property was previously used as a car yard.
More Than 10,000 White Collar Employees to Move to Docklands, Next 12 Months
TRAMS are being tested, and public transport users have less than a week to wait for the opening a new route connecting Collins Street to Merchant Street, an inland retail strip and a major part of Melbourne’s $12 billion Docklands redevelopment.
Merchant Street will connect the global headquarters of National Australia Bank, on the shores of Victoria Harbour, to the $620 million headquarters of ANZ Banking Group, which is nearing completion, on the banks of the Yarra River.
More than 10,000 white collar employees will relocate to Docklands over the next year, Knight Frank leasing agent Mark Rasmussen said, including staff from BP Australia, Fairfax Media, Myer, the Victorian Building Commission and VicUrban.
