Melbourne’s Target Centre Sells For $89.2 Million

Next door to the Target Centre, Macquarie Bank and private investor Les Smith are expecting more than $100 million for 206 Bourke Street, a 3140 square metre shopping centre built into a site occupied for years as the Village City Centre.

In 2009, Mr Lim paid APN Group $33 million for Bendigo Bank’s headquarters at 120 Harbour Esplanade in Docklands.

Coles – which like rival Woolworths also develops non-retail property, has been acquiring many metropolitan and provincial sites particularly since the economic downturn. It recently paid $40 million for a major Brighton block, and $6 million for a 1.3 hectare Coburg factory expected to make way for a shopping centre.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of