The syndicate which repositioned Bentleigh’s Transformers nightclub into a mixed-use complex is selling up.
The five level building at the busy Moorabbin Junction contains 12,000 square metres of office and retail space – leased to a mix of tenants – and 346 car parks.
The vendors paid $28 million in June, 2006 – then recommitted Centrelink to about half.
Colliers International’s Peter Bremner and Jeremy Gruzewski with Nichols Crowder’s Matt Nichols and Matt Spicer are expecting c$35m this time around.
The building once belonged to Fosters Group.
Former occupiers include the Nepean Hotel and Wax Nightclub.
The junction divides Bentleigh, Brighton East, Hampton and Moorabbin.
Last April, Gillon Group purchased seven sites at its edge gazetted Brighton East for c$15m with plans for a mixed-use residential based apartment complex.