Commercial and residential property news
Moreland City Council says it has received expressions of interest from multinational construction firms to regional housing associations, and from community-based special interest groups and other businesses for its $1 billion tender to redevelop 12 hectares of prime Coburg land into an almost car-free village.
Read moreRumour in downtown Sorrento is that the $18.4 million price Melbourne’s wealthy Shelmerdine family is reported to have paid for “The Sisters” estate in Sorrento, fell far short of higher offers made during the five week campaign.
Read moreThe first home in Melbourne to smash the $1 million mark when it sold at auction in 1981, is undergoing
Read moreSix months after announcing he would end a 25-year business partnership with his brother, John, restaurateur Frank van Haandel is rumoured to be sniffing around Chapel Street for his next business venture.
Read moreRecent interest rate increases are hitting housing hard with the value of all housing loans in Victoria (new and existing homes) decreasing 2.8 per cent in February and the number of loans falling by 2.1 per cent in Victoria. The fall for the month was dominated by a decline in purchasers of existing stock.
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Art dealer Rod Menzies is selling Armadale’s landmark Namarong. The 4000 square metres property, 52 Hampden Road, was also once
Read moreThe State Government is believed to have outmuscled private developers to snare a 1600 square metre Carlton development site, it plans to develop into a major affordable housing project.
Read moreThe Commonwealth Bank of Australia has followed in the footsteps of rival Westpac, and decided to stay put at its Bourke Street headquarters, ending any dream it will move to Docklands in the medium term at least.
Read moreBaron Corporation this week revealed details of a homemaker centre replacing the historic Lincoln Mills site in Coburg’s Gaffney Street.
Read moreOne of two neighbourhood shopping centres put to tender last month has been withdrawn from sale, while the other will be offered for private sale, as vendors are forced to accept demand for retail property today is not as strong as it was when they decided to sell.
Read moreFancy a tree-change fit for a Princess?
The picturesque hideaway social activist Jacqueline Pascarl sought refuge, after being reunited with her daughter Shahirah 14 years after she was kidnapped, is expected to be sold soon.
Read moreSmall real estate agency Allard & Shelton has appointed Marcus Quinn, who has now quit DTZ, which is global. The
Read moreSpooked by share market uncertainty and unsure whether property prices are heading backwards? Thinking about parking money in the bank? You’re not the only one.
Read moreTwenty eight Carlton investment properties purchased by rally car driver Douglas Briese before his tragic death in 2004, have been put to the market as a portfolio, or individually.
Read moreExecutives at the University of Melbourne – one of Melbourne’s biggest owner occupiers of office space – are building the college quite the enviable property portfolio.
Read moreQueensland-based developer Devine Limited continues to diversify its residential development site portfolio, picking up a 22 hectare estate in Pakenham, in Melbourne’s outer south eastern suburbs.
Read moreIndustry Superannuation Property Trust (ISPT), Cbus Property and EPC Partners today announced their joint venture to develop the new $700 million South East Stadium Precinct (SESP) at Docklands in Melbourne.
Read moreAnston Paving Stones has leased a 3,161 square metre office warehouse at Notting Hill, in Melbourne’s outer south-eastern suburbs.
Read moreThe Industry Superannuation Property Trust Opportunity Fund has pulled the plug on the redevelopment of the former Deakin University campus in Malvern, and now wants to sell the site for more than $50 million.
Read moreWhy would you want to live in Melbourne, when your house in the hills includes Mongolian, Egyptian and Venetian themed zones?
Read moreThe man who quit his plum job to drive a truck around former Prime Minister John Howard’s electorate of Bennelong in the weeks before the last election, crusading for environmental evolution, will take the rest of the year off, and think about what he “doesn’t” want to do for work.
Read moreAn as yet undisclosed education-based owner occupier battled Wednesday’s fierce wind to pay $3.4 million for a 3-level office building at 150 A’Beckett Street, near the Queen Victoria Market.
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The EWLNA (East Wink Link Needs Assessment) is making 20 recommendations, which are listed below.
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The parents of pop princesses Kylie and Dannii Minogue have extended the expression of interest deadline for offers on their
Read moreThe exclusive seaside retreat of Sorrento, about 90 minutes south of Melbourne has had a busy week of sales.
Read moreFooty show co-host, and recently appointed chairman of the North Melbourne Football Club James Brayshaw is believed to be the mystery buyer to fork out $4.3 million for a mansion in Martin Street Brighton yesterday.
Read moreAfter reaching $480,000 at the peak of Melbourne’s most recent property boom in December last year, new research from Residex confirmed industry speculation median values went backwards in February.
Read moreThe Maribyrnong City Council could approve as early as next week a controversial application by Tattersalls and the Western Bulldogs Football Club, to build a gaming venue smack bang in the middle of a community and sporting precinct in Maribyrnong.
Read moreAnthony Bursztyn is the mystery buyer of an $11.2 million Toorak mansion acquired before auction in January. The six bedroom
Read moreA private developer has paid $5 million at auction for a row of six shops with redevelopment potential in Ivanhoe East’s Lower Heidelberg Road retail strip.
Read moreThe architect firm to convert Collingwood silos into apartments, and pencilled plans for the 92-level Eureka apartment tower in Southbank, is behind one of the largest medium density developments in Barwon Heads.
Read moreExpressions of Interest closed last week for the Coburg Initiative, a partnership between the council and an as-yet-unknown developer, to add more than 1500 homes and 65,000 square metres of commercial and retail floor space to Coburg.
Read moreYarra Ranges Council and Mt Evelyn residents are preparing themselves for “round 2” of a fight against supermarket giant Woolworths, to halt development of a controversial mixed use development at the corner of Station Street and Snowball Avenue, in the city centre.
Read moreFootballer Brendan Fevola and his wife, Alex, a model, have acquired a Cheltenham house with plans for a new build.
Read moreMinister for Roads and Ports Tim Pallas yesterday confirmed the official names for two tunnels, part of the Eastlink Motorway development in Melbourne’s outer east.
Read moreThe property industry lost one of its hardest working personalities this week, with the unexpected passing of prominent property investor Ezriel Rabinowicz, aged 87.
Read moreAs rising interest rates continue to impact on home ownership, a new survey shows that nearly two-thirds of Victorians believe they will need to win the lottery to own their dream home.
Read moreIf rising interest rates and share market volatility is supposed to have sapped the heat out of the real estate market – nobody has told investors in South Yarra.
Read moreA standalone office building near the Bennetts Lane Jazz Club sold to an investor yesterday at auction for $3.61 million – more than $1 million over its expected selling price.
Read moreMelbourne-based property investment company Drapac has reaped $13.5 million from the sale of the former Collins Mitsubishi and Mercedes Benz dealership in Sturt Street, Southbank to property developer Les Smith.
Read moreIt’s enough to send anti-development groups crazy.
Developer Australand with project partner Citta Property Group have converted eleven historic buildings, once part of the Royal Park Psychiatric Institute in Parkville, into apartments.
Read moreMore than 35 property industry players had a well deserved caffeine fix in in Carlton on Friday, after riding their bikes more than 900 kilometres from Canberra, in searing heat, all in the name of charity.
Read moreMebourne’s auction clearance rate was steady again on Saturday (March 15) at 67 per cent.
The rate is significantly lower than the clearance rates of more than 80 per cent, recorded in the last quarter of 2007.
Read moreGenesis Fitness Clubs will open at new Camberwell shopping centre The Well. The $80 million complex, also with a seven
Read moreColliers International is bolstering its presence in the south eastern suburbs, committing to an office twice the size of its Mulgrave digs, at CGA Bryson’s UniPark development at Wellington Road Clayton.
Read moreThe former Lindrum Billiard Centre – built by the family of world famous billiard player Walter Lindrum in the 1920s – later reincarnated into offices, and then a boutique hotel – will be sold next month, in a deal expected to pot owner CBus around $20 million.
Read moreGame show host Andrew O’Keefe will need to find himself a new “deal-a-drome”, after the developer which bought Channel 7’s outgoing South Melbourne studios late last year signalled it wants to build apartments on the site and soon.
Read morePlanning Minister Justin Madden has approved Grocon’s plans for the redevelopment of the Carlton Brewery site at the top end of Swanston Street.
Read moreMelbourne’s auction clearance rate fell to an 18 month low of 67 per cent this weekend (March 8-9, 2008), suggesting recent interest rate rises have sapped the heat out of the market.
Read moreExponential growth in recent years will require Deloitte to relocate its Victorian headquarters to one of Melbourne’s newest office towers, Cbus Property’s CBW development, from February 2009.
Read moreStockland today announced it had acquired an apartments development site at 2-4 Yarra Street, South Yarra for $26.25 million, strengthening its presence in the Melbourne residential market.
Read moreUK-based fund manager New Star has finalised the purchase of an office building in the Melbourne CBD, offloaded by the Investa Property Group.
Read moreThe AFL footballer who scored an unprecedented three winning nominations for Mark of the Year in 2006, is selling an investment property in Hawthorn East.
Read moreThe Victorian chapter of the Urban Development Institute of Australia (UDIA VIC) today welcomed the Victorian State Government’s plans to increase land supply in Melbourne’s growth corridor, despite the Reserve Bank of Australia’s (RBA) decision to increase interest rates by 2.5 percent.
Read moreThree years after Australand enticed members of the Sunshine Golf Club to sell its Fitzgerald Road Sunshine course, and relocate to a site it owned further west in Derrimut – the developer will be the major sponsor for the Club’s inaugural Pro-Am, to be held at that new course next month.
Read moreThe Living End lead singer Chris Cheney has proved he is a “Prisoner of Society”– snapping up a luxury apartment in Society, a new high rise apartment block to be built in ultra trendy South Yarra.
Read moreMelbourne-based developer Hallmarc has fully leased its $30 million, Southbank Business Park in Lorimer Street, and will now plug the asset into a managed fund.
Read moreAfter ten years and a legal brawl, Sorrento’s historic The Sisters will be sold. The three acre property could trade
Read moreA luxury three bedroom apartment in St Kilda Road complex home to radio personalities Derryn Hinch and Andy Lee, also
Read moreDeveloper Central Equity has made the unusual decision to sell, rather than build on a residential development site in Port Melbourne.
Read moreQueensland-based fund manager Sunsuper will make a nifty profit from the sale of a St Kilda Road office building it bought at a trough in the market ten years ago.
Read moreLend Lease delivers strong half year profit result amid tough market conditions
* Statutory Profit After Tax up 49% to A$259.6m
* EPS on Operating Profit up 60% to 65.5 cents
* Net Operating Profit After Tax up 61% to A$262.8m Interim dividend up 23% to 43 cents a share
Mirvac Victoria today (Tuesday, 26 February 2008) bolstered its industrial/commercial division with the announcement it has entered into a joint venture partnership with The Melbourne Markets’ Strategic Alliance to pursue development options for the future Melbourne markets at Epping.
Read moreOwners of the massive Novak Prestige Motor Works site in South Melbourne have watched their suburb undergo a “metamorphic rebirth” over the last couple of decades – and have now decided to cash in on the boom.
Read moreQueensland-based developer Citimark is expected to announce plans for a medium-sized inner-city shopping centre, after snaring a 4,184 square metre development site in Brunswick, about five kilometres north of the CBD.
Read moreColliers International is marketing a significant office/warehouse property with several further development options (STCA) at Maidstone in Melbourne’s west. The property will be sold by Expressions of Interest closing Thursday, March 13 at 4pm and is expected to fetch more than $20 million.
Read moreDeveloper Hamton Property Group has teamed with Macquarie Real Estate Investment, to buy the former Coburg High School, in Bell Street Coburg.
Read moreCar dealership City Mazda has zoomed zoomed over the Yarra River, relocating from its long time showroom and service centre at 400 William Street, to a new facility in Southbank.
Read moreProperty and funds manager Cromwell Group (ASX: CMW) would like to advise of changes to the Group’s senior management.
Read moreLeading project management, design and construction company Bovis Lend Lease has been awarded the design and construction contract for the new Myer National Support Office at Victoria Harbour in Melbourne’s Docklands. The development has a forecast value on completion of $175 million.
Read moreAuction clearance rates in Melbourne held at 73 per cent this weekend just gone (February 23 – 24), signalling the frenzy which dominated the market last year may be settling down.
Read moreRecently appointed ANZ Bank chief executive officer Michael Smith has spent every cent of his $9 million “sign on fee” and then some – to snap up a mansion in Toorak’s AAA-belt, just hours before a scheduled auction.
Read moreSocial welfare provider The Salvation Army is believed to have pocketed about $12 million from the sale of its eastern suburb office headquarters, in the leafy suburb of Surrey Hills about 14 kilometres from the CBD.
Read moreRecently appointed ANZ Bank chief executive officer Michael Smith has spent every cent of his $9 million “sign on fee” and then some – to snap up a mansion in Toorak’s AAA-belt, just hours before a scheduled auction.
Read moreThe Foster’s Group has made $8.3 million from the sale of another industrial property in the inner north-eastern suburb of Abbotsford. The property was sold separately from a portfolio of eleven other Abbotsford properties offloaded by the brewer last year to Charter Hall, for around $41 million.
Read moreMedia and entertainment guru James Tutton has announced plans for yet another inner-city apartment project, again teaming with boutique developer Neometro to build Harper Lane – a 4-level, 62-unit apartment block near Neometro’s successful Luxe project, in Inkerman Street, St Kilda.
Read moreKnight Frank has poached Mirvac state executive Tom Ormerod to head up its newly created project marketing department.
Read moreJapanese fund manager daVinci advisers this week confirmed it has purchased the large mixed use The Foundry complex at 399 Bourke Street, in a deal worth $87 million.
Read moreRecent figures released by the Australian Bureau of Statistics confirm what agents and buyers advocates have said all year about the 2007 real estate market – investors have been out in force.
Read moreThe historic Woodend homestead disgraced businessman Richard Pratt and wife Jeanne used as a weekender in the 1980s has been sold to an as yet undisclosed restaurant operator for about $6.2 million.
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