Ron and Carol Minogue, the parents of entertainers Dannii and Kylie, have acquired another Melbourne commercial investment.
The three level office at 110 Church Street, Hawthorn, is costing $12.5 million.
It is nearing completion; vendor LAS Investments was building it speculatively.
Colliers International’s Rob Joyes and Brett Griffith marketed it privately.
The price reflects a 7.5 per cent market yield.
Upon completion at the end of the year, it will contain 2700 square metres of area.
It is believed to be the family’s priciest property and their biggest commercial one (it also holds two shops in Canterbury’s Maling Road).
The Minogue residential portfolio is reported to include assets in Armadale and Richmond too.
In 2002 it was speculated Kylie bought her parents an unrenovated mansion in Canterbury’s exclusive Monomeath Avenue which agents estimate would be worth c$7m today.