474 St Kilda Road
Uncategorized 

ISPT To Reap About $35 Million From Sale of 474 St Kilda Road

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474 St Kilda RoadIndustry Superannuation Property Trust can expect to make between $30 million and $35 million from what might be the most under-utilised property in St Kilda Road.

The Clemenger House office building, at # 474, is spread over two blocks and three streets.

Given the shifting attitude in recent years to convert St Kilda Road offices into high rise apartment skyscrapers, 474 St Kilda Road is expected to arouse interest from residential developers.

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Victoria 

Ubertas Group to Sell Last Apartments at 505 St Kilda Road

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A UNIQUE luxury apartment with a “left-wing” connection has hit the market, as the developer of a new complex clears the last of the unsold apartments.

The double-storey “townhouse-style” apartment is on the ground floor of Ubertas Group’s 505 St Kilda Road complex, a project built on the site of what was St Kilda Road’s first high-rise office.

The 505 complex is absolute park-front, having a security door connecting residents to the massive Fawkner Park. The apartment itself (G02) includes two bedrooms, a study, two car parks, downstairs courtyard and upstairs balcony – both with a park vista.

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St Kilda Road
Victoria 

Cheap Rents Drive St Kilda Road Office Leasing Activity

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St Kilda RoadSEVERAL major office lease deals have been signed in St Kilda Road, in what is hoped will bring down vacancy from dangerous new highs recorded earlier this year.

The biggest deal is to Fujitsu Australia Limited, which will lease 25 car spaces and 3131 square metres over three levels at 570 St Kilda Road.

Fujitsu staff will relocate from offices in the CBD and at its prominent 1230 Nepean Highway office in Cheltenham.

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Victoria 

Defence Health to Reap $6.5 Million From Sale of Outgoing St Kilda Road Office

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PRIVATE health insurer Defence Health can expect to make $6.5 million from the sale of a prominent St Kilda Road office within walking distance to the Flinders Street station.

Defence Health is the latest in a string of companies to list formerly owner-occupied buildings for sale, while it rents elsewhere.

Defence Health’s outgoing office three-level office at 344 St Kilda Road, opposite the Shrine of Remembrance is being marketed by Colliers International’s Ben Christie.

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Belgian Beer Cafe
Victoria 

Hudson Conway Speculated to be Buying St Kilda Road’s Former Vision Australia Site For $22 Million

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St Kilda Road Belgian Beer CafeDEVELOPER Hudson Conway is speculated to be paying about $22 million for a prominent St Kilda Road development site opposite Wesley College, capable of accommodating several high rise apartment towers.

Hudson Conway is believed to be in advanced negotiations to buy the St Kilda Road site, which Sydney-based developer Stockland purchased off Vision Australia for $28.3 million in 2007.

Stockland reportedly sold the subdivided Belgian Beer Cafe bluestone building that was part of the Vision Australia property, for a speculated $7 million last year, after undertaking a $2 million renovation.

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News Victoria 

Flight Centre to Retain St Kilda Road Office Building

HAVING reported a strong six-month profit of $51.5 million last week, Flight Centre Limited has confirmed it will hold onto a St Kilda Road office it purchased at the peak of the commercial property boom in 2007, and then renovated.

Flight Centre Limited’s Haydn Long confirmed the group will retain the 11-level office it occupies and leases to tenants, at 436 St Kilda Road.

The building was put to the market last April with a price tag of between $25 million and $30 million, and after the economic downturn had grounded property markets.

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Victoria 

Leaseplan May Quit St Kilda Road for South Wharf

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THE owners of the $750 million South Wharf development, at the point where Southbank meets Docklands, may have snared another major office tenant from St Kilda Road.
 
Car leasing giant Leaseplan is understood to have leased about 4,000 square metres at the 12-level South Wharf office tower, part of a massive riverfront development that also includes the new DFO South Wharf, and a 396-room Hilton Hotel. 

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Western Australia 

Football Federation Victoria Leaves Thornbury for St Kilda Road

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VICTORIA’s state governing body for soccer will relocate from a modest office in the middle of a northern suburb sports complex, to a relatively flash new headquarters in tree-lined St Kilda Road.
 
Football Federation Victoria has leased 845 square metres at Flight Centre’s 436 St Kilda Road office building, about five months ahead of the opening of the distinctive Rectangular Stadium, under construction on Olympic Boulevard, the new name for the part of Swan Street, west of Punt.

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Victoria 

Interior Designer David Hicks Pays $3 Million For St Kilda Road Apartment

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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.

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Victoria 

St Kilda Road’s Aviva Building Close to Sale For $55 Million, Apartments Earmarked

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A year since coming to the market, Dexus Property Group is believed to be formalising the sale of its huge 509 – 515 St Kilda Road office for about $55 million.
 
Well placed industry sources say a residential-focussed developer is in exclusive due diligence to buy the 7-level, 19,687 square metre office building, which straddles a 6,070 square metre double-sized block near the corner of Commercial Road. 
 
They speculate the office building currently on the site – home to copier and printer giant Fuji Xerox and insurance group Aviva which also leases naming rights – will be demolished to make way for between two to three new high rise towers, flanked by ground floor retail.

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Victoria 

Plans to Turn Ormond Hall, St Kilda Road, Into Hotel

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The bluestone Ormond Hall in St Kilda Road, home to Victoria’s first Belgian Beer Cafe, will become a boutique hotel, under plans by Stockland, the site’s new owner.

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