realestatesource

A Richmond showroom – part of racing car driver Ray Christie’s estate and held by the family for some 70 years – sold at auction on Wednesday for $5.575 million to Spotlight Group. Six other suitors contested for 613-617 Bridge Road which was marketed to developers and investors for its longer term potential to make

A soon-to-be-vacated northern Victorian industrial property where vendor Nestle for years made tinned milk is for sale. The Tongala offering comprises five titles, covers 78.2 hectares and includes plant and equipment. The seller announced last year that it would shut the facility; it is expecting to empty out by February. For more than a decade

Fortis is paying $19 million for a Richmond development site behind hotel Union House. The arm of Sydney-based Pallas Capital has earmarked the 1298 square metre parcel at 2-8 Brighton Street for a 10-level complex with apartments, offices and retail. The holding offers south facing view security over the train line near East Richmond station.

A house at the western edge of Toorak Village – opposite a six storey apartment building – has sold to a residential developer for $5.1 million or 10 per cent over guide. The Toorak parcel, 410 Toorak Road, received nine written offers following an expressions of interest campaign which closed on November 4. Morley Commercial’s

EXCLUSIVE Daniel Besen has submitted plans for a mixed-use building which will dub as the Besen headquarters, in Melbourne’s inner north Fitzroy. The brick proposal with five inset levels is shorter than many agents were expecting when the developer paid $8.91 million for the 899 square metre Commercial 1 zoned plot at 1-9 Gertrude Street

Melbourne Airport Corporation has pre-committed CSL-backed cell-based vaccine and antivenom manufacturing group Seqirus to what will be one of Australia’s largest industrial properties – nearly 1.5 times the size of Rialto Towers. The key factor for the tenant was location – specifically, the ability it will provide to quickly fly out supplies all day every

Credit Suisse Asset Management is speculated to be selling a Melbourne CBD office for nearly $160 million as it continues to reweight its national commercial real estate portfolio. An offshore investor is undertaking due diligence on 505 Little Collins Street according to sources. The property hit the market in September – at about the same

Two healthcare investments near Knox Private Hospital, in Melbourne’s east, are changing hands. In the biggest and most recent deal, a Hong Kong buyer is paying $5 million for a modern, four level medical centre at 169-171 Stud Road, Wantirna South, fit out for five businesses including a physiotherapist, dentist and lymphoedema clinic. Also with

A seven square metre lift shaft converted into a commercial space has been tenanted to a boutique hot chocolate maker for a starting annual rent of $17,000. The leasing agency advised the owners of 107 Elizabeth Street, in the Melbourne CBD, to create the ground floor area by cutting out a window to the disused