Regional commercial real estate portfolio sold privately after auctions cancelled

Fifteen east coast commercial properties which were to have been offered at portfolio auctions that were cancelled this quarter because of COVID-19 restrictions, have found buyers following private sale campaigns. Seven assets are rented to businesses considered essential services. Three shops, two offices and two factories – all being outside of Victoria – are also

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PrimeLand, Baksh Capital pay $9m for East Melbourne’s historic Magnolia Court

PrimeLand Group with Singaporean fund Baksh Capital has paid $9 million for East Melbourne’s Magnolia Court with intentions to renovate and extend it. The guesthouse at 95-101 Powlett Street wasn’t for sale six months ago however, with hospitality one of the hardest hit sectors in the early stages of the COVID-19 pandemic, vendor Leaper Holdings

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Pelligra spends c$38m on sites in Carlton, Braybrook

Pelligra Group is paying a speculated $35 million for the Rydges on Swanston hotel at the centre of the botched quarantine program, part responsible for Melbourne’s latest COVID-19 outbreak. The 107-suite guesthouse at 701 Swanston Street, Carlton, will now be renovated as a 4.5-star inn with conference facilities, and re-let. Vendor, Adelaide based hotelier David

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Cromwell, BlackRock up proposed height of Chatswood commercial building

Cromwell Property Group and joint venture partner BlackRock Real Estate have more than doubled the height of a proposed mixed-use commercial building at Chatswood’s Central Plaza. An amended development application is for an 11-level structure with 6500 square metres of office space and 4.5-star, 156 suite hotel. The tower would sit between twin 14-storey ones

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Occupiers, investors snap up seven neighbouring Keysborough industrial assets

An entity which because of COVID-19 had to suspend the April bulk-auction of seven small Keysborough industrial investments has sold them, but via a two stage expressions of interest campaign. Demand wasn’t dampened, according to the selling agents, Gross Waddell’s Andrew Greenway, Alex Ham and Australian Professionals Property Service’s Paul Doherty – with 26 offers

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Suleman Group launches build-to-rent based village at Spotswood

The Suleman family’s development arm has appointed ABD Group to construct a major build-to-rent based village in Melbourne’s inner west Spotswood. Union Quarter at 31-69 McLister Street, on the south east corner of Melbourne Road, will contain 334 apartments – 34 which will be for National Disability Insurance Scheme accommodation – within a six and

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