National Australia Bank to Sell Naval & Military Club as Mortgagee in Possession

The bank has removed an inhibiting caveat Southraw had on the property’s title, selling agent Jones Lang LaSalle told The Age. This clears the way for any new owner to build a 24-level hotel and apartment project upon settlement.
The NMC obtained development approval for this tower before collapsing earlier this year. JLL’s Andrew Wood and Lachlan Thompson will auction the NMC building on July 8th.

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Marc Pallisco

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