Paul Lynch sells South Yarra restaurant
Paul Lynch sold his landmark South Yarra restaurant last week. The auction topped at $5.3 million. The 462 square metre
Read morePaul Lynch sold his landmark South Yarra restaurant last week. The auction topped at $5.3 million. The 462 square metre
Read moreTens of thousands of city workers and residents who walk over the Southgate Footbridge everyday will soon have a place to stop in for a half-time break.
Read moreResidents in the millionaires playground of St Ninians Court in Brighton will at last see what all the fuss is about at # 9, when veteran yachtsman turned property developer Lou Abrahams unveils his luxury apartment project.
Read moreThe owners of Chapel Street dining institution Tokyo Tepanyaki, are selling a triple storey terrace home at 148 Beaconsfield Parade, Albert Park.
Read moreRetired Australian Test cricket umpire Tony Crafter expects prospective buyers to be bowled over by his boutique apartment, in one of the city fringe’s most secluded pockets.
Read moreAn undisclosed international business identity has paid a record $8.59 million for a luxury St Kilda Road apartment.
The sale price eclipses the $8.325 million record set by Wimbledon ace Lleyton Hewitt in 2005, for the Yve penthouse on levels 19 and 20, at 576 – 578 St Kilda Road.
Read moreA phone call to a Yarrawonga real estate agency earlier this year, inquiring about a price of waterfront land – has resulted in Australand executive Andrew Shell and wife Mandy committing to the biggest change of their lives.
Read moreSale results for CBD retail assets continue to defy explanation, with a small arcade of shops, on a prominent corner diagonally opposite the State Library of Victoria, selling at auction for $13.05 million, more than $5 million over its reserve.
Read moreA bulky goods centre at a busy Westgate Freeway offramp has sold to a local private investor, for a price understood to be more than $10 million.
Read moreColliers International and Dixon Kestles won two of the highest accolades for a commercial agency at this year’s Real Estate Institute of Victoria Excellence Awards, held at Crown Casino on Thursday October 18.
Read moreOne of the country’s biggest private development companies, St Hilliers, is understood to have sold a large Coburg industrial asset for $11 million, as it continues to sell off properties in its Enhanced Property Fund No 2.
Read moreChampion Compressors has signed one of the biggest industrial lease deals in the south-eastern suburbs for the year, taking almost 11,000 square metres of space recently vacated by electrical manufacturer Mistral.
Read moreSix years after the famous collapse of Ansett – the airline’s substantial landholding at the northern tip of the CBD has been fully redeveloped into a residential, retail and entertainment mecca.
Read moreWhether residents want to admit or not, St Kilda West’s most prominent home is not on Beaconsfield Parade. Nor is it on tree-lined Mary or Park Streets.
Read moreLess than a month after securing ASX-listed healthcare operator Healthscope as a major tenant at its Gateway office building at 312 St Kilda Road, property owner Kador Group has put the asset on the market.
Read moreTertiary institution Swinburne University has confirmed it will sell an office building and development site across the road from its Hawthorn campus.
Read moreLend Lease is the latest developer to announce plans for a new residential tower in Docklands, giving prospective buyers another apartment to add to their shopping list next year.
Read moreOne of the Dandenong Ranges most imposing homes was put to the market this week.
Mount Royal Manor, a 143 square mansion set on two hectares of manicured gardens at 1317 Burwood Highway, Upper Ferntree Gully, is expected to sell for around $6 million after an international marketing campaign.
Read moreIt was a double dose of good news for trainer Colin Little yesterday, who on top of winning the Cox
Read moreInsiders say a new price record is likely for the understated south-eastern suburb of Ormond later this month.
Read moreThe fastest rumour doing the rounds this week is that Olympic runner Cathy Freeman will not move into the Brighton home she bought in September last year.
Read moreMelbourne’s prestige residential market seems to be going from strength to strength, with the sale yesterday of 774 Orrong Road
Read moreCollectors of fine art, and fine property, have a week until March 3 to inspect the Toorak mansion of art collector Alex Copland before it goes under the hammer.
Read moreSpectators at a recent twilight auction in Kew were treated to a bit of street theatre, with television actress Anne Scott Pendlebury (who played Aunt Hilary in Neighbours for more than ten years, and was also a star in Prisoner) dressing up in garb and greeting the crowd with cold drinks and stories, spoken in a plebian cockney accent.
Read moreThe Grollo family is continuing to sell coastal Victorian assets, this time at St Andrews. Adam, son of Bruno, is
Read moreAll eyes turn to Brighton this week, and the matter of what King Shane and Queen Simone will do with their substantial property holdings, now that things appear to be on the mend in the Warne-Callaghan camp.
Read moreThe days of tennis players renting a luxury home for their stay at the Australian Open are all but gone, according to agents, because rich home owners simply don’t need the money.
Read moreThe most expensive apartments to be built on the Mornington Peninsula look unlikely to ever be offered to the public – with some of Melbourne’s biggest business identities flagging almost all of the units on offer, just weeks after the complex was given a permit.
Read moreWho needs for a getaway when your Melbourne home has all the luxuries of a resort and is on the
Read moreA Brunswick development site once owned by fugitive drug dealer Tony Mokbel will be listed later this month. On Breese
Read moreMetricon has again finished the financial year as Victoria’s largest home builder, with 1,475 starts. Henley Properties followed (1,248), with
Read moreA Victorian couple has outbid two international parties for the landmark Milford mansion in Kew.
The Italianite mansion, built in the height of the 1850s gold rush, sold for in excess of $4 million after an international marketing campaign which saw five parties hotly contest the property to the very end.
Read moreFormer Labor party MP and the third women ever to be elected as a minister in the lower house Kay Setches, is selling the Edwardian terrace in Thornbury she’s called home for 7 years and preparing for a move to Docklands.
Read moreAgents have confirmed Cathy Freeman is the mystery buyer of a Roslyn Street Brighton mansion. The Olympic Gold medalist is said to have paid $2.2 million before auction, and will move in later this year.
Read moreThe western suburb of Maidstone may soon have enough professional footballers to make a team, with Private Property learning four Western Bulldog players have bought into Essence, a new estate being developed by the Stockland group.
Read moreIndustry insiders have confirmed that Shane Warne’s Brighton home is being quietly marketed for sale. The news comes weeks after estranged wife and television identity Simone Callaghan started rebuilding a house she bought in nearby Albert Street earlier this year.
Read moreIt was fun the first time – thats the motto doing rounds at Wilbows Hawthorn headquarters, with the developer this week announcing it picked up a second development site in the north east suburb of Doreen.
Read moreThe list of Westpoint assets coming onto the market continues to grow -all the while giving a second bite of the cherry to developers who missed out on those sites not long ago.
Read moreLeighton Leasing Activity
Lachlan REIT this week announced a string of national lease deals which see two of its four funds become fully leased. The biggest Melbourne deal is the re-signing of Hagemeyer Asia Pacific to 456 Lower Heidelberg Road in Heidelberg for six years. The electrical distributor, responsible for brands including Smeg and Blanco, leases 3,617 square metres of the property.
Read moreWith the number of international students in Melbourne university’s growing each year, developer South Pacific has unearthed a niche for premium quality student accommodation in Carlton.
Read moreThe Port Melbourne studio that shot award winning films Shine, Muriel’s Wedding and The Man From Snowy River is set to make way for a residential conversion.
Read moreEverybody needs good neighbours, and that’s what’s on offer in Vermont South, just a hop skip and a jump from Erinsborough’s fictional but world famous Ramsay Street, known locally as Pinoak Court.
Read moreNorth of the Yarra River, blue ribbon real estate doesn’t come much more exclusive than Leslie Road and Riverview Road in Essendon. So when a house at the corner of these tree lined boulevards becomes available – it’s the talk of the town in bomber land.
Read moreTo Melbourne’s bourgeoisies, nothing spells exclusivity like a bathing box.
Read moreKinane, the 6-bedroom mansion on a prime parcel of Brighton’s waterfront has broken the record for the most expensive home in Brighton.
Read moreThe Kew home of Jazz Festival director Michael Tortoni has sold before selling agent Jason Scillio of Kay and Burton even had time to lodge the first advertisement. The property, on a parcel of more than 2100 square metres, is believed to have sold for around $3.5 million dollars.
Read moreThe distinctive Yve apartment project on St Kilda Road has won the 2006 Victorian Architect Medal, in a ceremony held on Friday night at the National Gallery of Victoria.
Read moreMELBOURNE’s Holiday Inn Hotel in Flinders Street is believed to be close to sale to Singapore’s listed Lasseters International Holdings.
Lasseters is understood to be paying about $44 million fo the 4.5 star, 200-room hotel, which is being offloaded by Eureka Funds Management.
Eureka purchased the Holiday Inn, and eight other hotels as part of the $390 million purchase of the InterContinental Hotel Groups portfolio in 2005.
Read moreLEND Lease has been named as preferred builder, to develop Melbourne’s wholesale fruit, vegetable and flower market in Epping.
Victorian Major Project Minister Tim Pallas made the announcement today, saying the $870 million project will create about 600 jobs.
The move will also give the government a swag of inner-city land parcels to consider selling, or developing. Much of the land is located in Melbourne’s inner-west, between the Docklands precinct and Footscray.
Read moreA CBD building, offloaded by the Royal Melbourne Institute of Technology five years ago, has been listed for sale this week as a major residential development site.
The 410 Elizabeth Street office, known to RMIT staff and students as Building 87, will be sold with a development permit for a 50-level apartment building, capable of accommodating hundreds of units.
The property is owned by developer Michael Buxton, who paid RMIT $8.25 million for the office in 2004, before working on obtaining a residential development permit.
CROWN Casino’s outgoing Crown College training facility in City Road is expected to be sold and developed into a major apartment project.
Sources say two adjoining buildings between 141 and 155 City Road will be surplus to the casino’s needs once it relocates Crown College into the $300 million distinctive Crown Metropol hotel, which has been under construction all year.
Crown declined to comment about mounting speculation it is formalising the sale of the properties on the corner of Power Street, ahead of relocating the College.
FIGURES released this week by the Housing Industry Association show Victoria’s biggest builders have managed to increase their market share despite the bleak economic backdrop.
The HIA said of the 41,818 home starts in Victoria for the 2008-2009 financial year, the state’s biggest 20 builders built 13,282 dwellings, compared with 11,727 dwellings in the previous year, when a similar number of new homes were constructed.
The HIA said Victoria’s top 20 builders now have a 32 per cent share of the market, compared to 28 per cent last year.
Read moreMELBOURNE’s $750 million South Wharf project, at the point where Southbank meets Docklands, will become the city’s next DFO (Discount Factory Outlet).
The owners of the South Wharf and Spencer Street DFO outlet, Austexx, have confirmed a two year rumour that the 60,000 square metres of retail space within the South Wharf complex, will accommodate existing Spencer Street DFO tenants, and then some.
The Spencer Street DFO shopping centre will be refitted and rebranded simply as “Spencer Street”, once DFO tenants start relocating from October 15.
Read moreTHE Victorian Civil and Administrative Tribunal has approved a high rise residential building abutting Melbourne High School. With 100 apartments,
Read moreA penthouse at the high-end Melburnian complex has sold for $15.4 million. The price is more than $5m over the
Read moreRESERVE Bank of Australia head of economic analysis Tony Richards has warned Australian house prices will rise in the next 12 months, putting pressure on housing affordability – despite imminent interest rate rises.
At a Committee For Economic Development of Australia conference yesterday, facilitated by The Australian newspaper, Dr Richards said: “It is looking increasingly clear that Australia has avoided the large falls in house prices seen in some other countries over the past two years or so.”
Read moreTHE Melbourne City Council will meet on October 6 to discuss shifting the suburb boundary of East Melbourne, to include a 19-level unique glass apartment building, built over train tracks, near Federation Square.
Residents have started moving into the prestigious project, which was marketed by developer Becton as “ONE EAST MELBOURNE” – but is in fact in an area defined as ‘Melbourne’, and arguably worth a lot less.
Read moreFLAMBOYANT socialite Rose Porteous has listed her Toorak home for sale, again.
The 60-year old grandmother, who with husband Willie purchased her first Melbourne home in 2005, could reap as much as $7 million for the three-bedroom plus study home, on a 650 square metre block in ritzy Irving Road.
Rose paid a reported $4.9 million for the home in July 2007, before undertaking a renovation. The home includes a double height entrance hall with return staircase, formal and informal living and dining rooms, several private courtyards, and a triple car garage.
BUSINESSWOMAN, and BRW Rich 200 member, Iris Lustig-Moar has made about $4.75 million from the sale of an apartment shell, adjoining her own penthouse, on top of the luxurious Lucient building, at 430 St Kilda Road.
The co-director of architect and development firm Lustig & Moar, had originally planned to incorporate the apartment into her own, to create a super-penthouse some speculate could have had an end value of more than $12 million, and be one of the most expensive in the boulevard.
BY 2021, Australia will have twice the number of retirement village units than it does now, according to a new report by advisory firm Ernst & Young.
EY Real Estate Advisory Partner Marcus Willison said a new study, based on population trends in Australia and New Zealand, suggests Australia’s stock of retirement village units will increase by about 60,000 to more than 128,000 by 2021.
He said “the ageing population trend within both Austalia and New Zealand will have a marked impact upon the growth of the retirement village industry, with the number of people aged 65 and over forecast to double and triple in both countries within the next 35 years.”
Read moreThe beleagured Centro Properties Group has offloaded a shopping centre in the small Victorian coastal hamlet of Rosebud, about 80
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THE University of Melbourne is continuing to seize properties around the northern city-fringe, this time paying about $30 million for the brand new C100 office complex in Carlton.
The University is believed to have made an offer to purchase the flash nine-level office at 100 Leicester Street last month, after negotiations to lease the entire 6,783 square metre building, fell through.
The University of Melbourne manager corporate affairs Christina Buckridge said C100 will accommodate the new Melbourne Graduate School of Education. She said the building is being fitted out, and will be occupied from early next year. The property was previously used as a car yard.
TRAMS are being tested, and public transport users have less than a week to wait for the opening a new route connecting Collins Street to Merchant Street, an inland retail strip and a major part of Melbourne’s $12 billion Docklands redevelopment.
Merchant Street will connect the global headquarters of National Australia Bank, on the shores of Victoria Harbour, to the $620 million headquarters of ANZ Banking Group, which is nearing completion, on the banks of the Yarra River.
More than 10,000 white collar employees will relocate to Docklands over the next year, Knight Frank leasing agent Mark Rasmussen said, including staff from BP Australia, Fairfax Media, Myer, the Victorian Building Commission and VicUrban.
HAVING been saved from possible demolition about seven years ago, St Kilda’s Westbeach Bathers Pavilion will re-open next month as a high end café, restaurant and function centre.
The formerly rundown 800 square metre building at 330 Beaconsfield Parade, on the corner of Pier Road has been restored by a development consortium including kite boarding property developers Katani, in association with the City of Port Phillip.
Interiors within the 81-year old building have been refitted in a 1920s theme, and the redevelopment includes a new deck opening out to the beach.
THE consortium that developed St Kilda Road’s luxurious Lucient apartment tower, has decided to sell, rather than develop, a prominent Southbank property.
Boutique architect firm Lustig & Moar, and Macquarie Real Estate Capital can expect to make about $14 million from the sale of prominent triangle shaped development site which abuts almost 100 metres of the busy off ramp between the West Gate Freeway and Kings Way.
The 42 – 48 Balston Street property will be sold with a development permit for a unique 37-level, 306-unit apartment complex.
COLLINGWOOD-based developer Caydon is the mystery buyer to pay more than $12 million for a major Hawthorn development site, overlooking the Glenferrie Oval.
The collection of properties was offloaded by Mirvac, which had quietly spent several years amalgamating adjoining warehouses and offices between 291 and 311 Burwood Road, to create the 5,000 square metre super site.
Soon before listing the property for sale in August, the Victorian Civil and Administrative Tribunal granted Mirvac a permit to build a $120 million, 5-level office which at 18,800 square metres, would have been one of the biggest in the suburb.
FOOD and beverage giant Kraft Foods will relocate its Melbourne staff from a Port Melbourne building originally built as a sophisticated British Aerospace research facility, to the $750 million South Wharf village, at the point where Southbank meets Docklands.
Kraft head of corporate affairs Simon Talbot confirmed it will lease 3,800 square metres of offices over two levels at the new South Wharf office building, and an additional 650 square metre balcony, which staff will use to entertain, and retreat.
PORTLAND Properties, the investment company of Melbourne’s wealthy Hains family, has quietly listed for sale an unusually high income-earning investment in Port Melbourne.
Portland can expect to make about $1 million from the leasehold sale of a property at 38 – 50 Bertie Street, which includes a 1,200 square metre office, and a 4,000 square metre warehouse.
THE Mornington City Shire Council has approved plans to redevelop the Dromana Sports & Fitness Centre, into an apartment and townhouse complex.
A council spokeswoman confirmed the site’s owner, represented by planning, architect and interior design firm Graphos, plans to build 17 dwellings on the 57 – 59 Pier Street site, which is within walking distance to Dromana’s main retail centre and the Dromana Recreation Reserve. Buildings on the site are being demolished at the moment.
DSV Air and Sea Transport has consolidated from two suburban offices to a 5,042 square metre office warehouse at 95 – 99 South Centre Road, near the Melbourne Airport, at Tullamarine.
The move has paved the way for logistics firm BTI Logistics to sub-let DSV’s outgoing but near-new 2,500 square metre Westmeadows facility at 62 – 66 Western Avenue – across the road from The Age Print Centre.
An undisclosed tenant is believed to have leased a 3,120 square metre office warehouse facility, also vacated by DSV, at 9 Trade Park Drive in Tullamarine.
DODGY real estate agents are not posting auction results, in a move creating even more smoke and mirrors in the sector.
In a move not monitored by Victoria’s toothless tiger industry watchdog (Consumer Affairs Victoria), some 12 per cent of public auction results were not recorded in April 2009, compared to 5.1 per cent in April 2008.
The practice comes as agents tell consumers to refer to sale results, for a property’s price guide. At the same time, many agents are refusing to disclose estimated sale prices during a campaign, meaning Australian home buyers risk making a purchase based on very little reliable information.
Read moreMIRVAC Real Estate Investment Trust has sold two investments for a combined total of $27.4 million.
In Melbourne, the group offloaded the Doncaster Corporate Centre at 591 – 609 Doncaster Road for $17.3 million. The sale includes a purpose built Silverstone Jaguar showroom and three office buildings. CB Richard Ellis was marketing agent for this property.
Mirvac also sold the Pender Place Shopping Centre in the NSW Hunter Valley town of Maitland for $10.1 million – about the same price it was purchased for in 2007.
Read moreBOSCH has leased a 14,000 square metre industrial facility, in the outer south-eastern suburb of Dandenong South.
The technology company will pre-commit to a new office and warehouse building on the corner of Abbotts Road, and Taylors Road at the M2 Industry Park, being developed by Melbourne private development company Pellicano.
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LEND Lease will team with the founder and former CEO of Skilled Engineering, Frank Hargrave AO, to develop a major residential village abutting Toorak Park, in Melbourne’s ritzy south-eastern suburb of Armadale.
Lend Lease confirmed it entered a joint venture to redevelop the 2.5 hectare office site at 590 Orrong Road with Mr Hargrave’s Larkfield Holdings Pty Ltd, the owner of the land.
The site is bordered by Orrong Road, Osment Street and the northern boundaries of Victory Square Reserve and Toorak Park. It abuts the Toorak train station to the east, and a pedestrian bridge to the small Beatty Avenue retail strip.
RICHMOND’s tallest office building will be developed on a site at the busy onramp between Punt Road and the Monash Freeway.
The Victorian Civil and Administrative Tribunal has given Melbourne-based developer Caydon the green light to build a nine-level office on the site of the former Viva Plastics warehouse, on the north-east corner of Harcourt Parade and Cremorne Street, next to the famous Nylex sign and silos.
Caydon paid $6.15 million for the prominent 3,050 square metre Richmond site last July.
THE South Yarra motel at the centre of a saucy scandal involving Hollywood actress Ava Gardner, and crooner Frank Sinatra 50 years ago, is for sale.
Rooms within the St James Motel, at 35 Darling Street, accommodated Ms Gardner and a production crew during the 1959 filming of “On the Beach”, parts of which were shot in Berwick.
It was reported Frank Sinatra would often visit Ms Gardner during filming, despite the fact the couple divorced two years earlier. Sinatra left his wife and three kids in 1951, to marry Gardner – who had already been married twice before.
UNINVITING inner-city retail strip Victoria Street, at the suburb border of Abbotsford and the precinct known as North Richmond has attracted a second major retail tenant.
Woolworths this week confirmed a 20-year, 4,000 square metre retail lease at Hive, a $50 million shopping centre and residential project, being developed on a 5,000 square metre site on the north-west corner of Nicholson Street.
Woolworths will join rival Aldi, a large pharmacy, and 22 specialty retailers at Hive, which is due to open in February.
PLANNING Minister Justin Madden will open Becton’s distinctive glass One East Melbourne apartment complex later this month.
The tower is the final piece in a 17-year redevelopment of the former Jolimont rail yards, which Becton acquired from the State Government in stages.
One East Melbourne includes a 19-level, 85-unit apartment tower, topped by a rooftop garden.
EVOLVE Development, the construction company of Fairfax chairman Ron Walker and business identity Ashley Williams, has unveiled images of its $45 million George apartment project in North Melbourne.
The 8-storey Hassell designed tower will be developed at 97 Flemington Road, on the south-east corner of Harcourt Street, and will replace a double-storey office until recently occupied by clothes manufacturer Pacific Brands.
INTERIOR designer David Hicks is understood to have paid more than $3 million for a luxury St Kilda Road apartment, built on what was once the site of a rundown office and shopping plaza.
Hicks, who was a judge on Channel Nine’s recent television show homeMade, is speculated to have purchased a 3-bedroom apartment at 401 St Kilda Road, a boutique complex developed by Pan Urban, the construction company of business identity and publisher of The Monthly, Morry Schwartz.