Developer buys piece of ex-Carlton & United Breweries site
SP Setia has snapped up neighbouring Carlton blocks, for years part of the ex-Carlton & United Breweries, now mostly replaced with apartments including student accommodation.
The Malaysian developer is planning a residential project too after paying $114 million for 185-195 Queensberry Street and 46-78 Bouverie – all up, a 6561 square metre amalgamation.
The seller, a Chinese entity, Xing Nine Holdings Pty Ltd, acquired it from Grocon in 2014, outlaying $60m.
Cushman & Wakefield’s Leon Ma, Oliver Hay and Daniel Wolman brokered the on-sale.
The deal is the priciest in the suburb for over a decade, they said.
Colliers’ Tim Storey acted for the buyer.
The purchase comes a year since we reported SP Setia paid Mirvac $88m for 383 La Trobe St which plans to repurpose a permitted office as apartments.
SP Setia also recently completed the Sapphire by the Gardens complex, with a Shangri La hotel and apartments, which replaced an ex-Telstra exchange, at 63 La Trobe St – not far from its latest sites.
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