Valmorbida family sell sprawling South Yarra pile
The Valmorbida family has sold three neighbouring residential blocks on South Yarra’s exclusive Avoca Street – part of which has
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Chemist Warehouse executives buy store occupied by rival
Chemist Warehouse executives have bought another High Street style shop, it is speculated to occupy, this time in Melbourne’s east
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McConnell Dowell to relocate Melbourne HQ
McConnell Dowell will relocate from Hawthorn to Burnley after striking a lease deal with Charter Hall and Victorian Funds Management
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Coles sells Camberwell supermarket with a leaseback
Coles has sold the five year old Middle Camberwell outlet with a leaseback. The two storey complex with a full-line
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Bensons buys Carlton apartment site
EXCLUSIVE Australian Unity has sold a central Carlton site earmarked for an aged care village to Bensons Property Group which
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Scanlan Theodore founder buys historic ex-school
EXCLUSIVE Gary Theodore has snapped up South Yarra’s former Hawksburn State School for the Scanlan Theodore company he established to
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Coles acquires Balaclava supermarket at sub 2pc yield
Coles Group Property Developments has quietly purchased the Balaclava supermarket it has occupied for some five decades. The retailer is
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Dubbo Homemaker Centre fetches $13.3m from fund manager
MPG Funds Management has swooped on the new Dubbo Homemaker Centre, 300 kilometres north west of Sydney. The 3796 square
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Gina Rinehart buys Brisbane office
Gina Rinehart, Australia’s richest person, has added a Brisbane office to her portfolio. The 14 level A-grade building, 70 Eagle
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New Mercure sells at 5 per cent yield
Another Mercure backed hotel has sold, this time in the south east Melbourne growth corridor of Pakenham. The four month
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Woolworths supermarket fetches $12.85m
Woolworths is speculated to be buying its tenancy at Hawthorn’s ex-Glenferrie Market. The $12.85 million price reflects a 3.3 per
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Windsor Castle Hotel sells for record price
Harvest Hotels has paid $51 million – a record for an inland regional pub – for East Maitland’s Windsor Castle
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Developer buys Xavier’s Kostka Hall
Jeff Xu has snapped up another redundant school for a medium density project – this time in Brighton. The executive’s
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End of an era as developer secures Mercedes Toorak dealership
Orchard Piper is picking up the Mercedes Toorak dealership as a development play. The deal with the family of late
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Rob Sinclair beats developers to Abbotsford amalgamation
E&S Trading co-owner Rob Sinclair snapped up neighbouring Abbotsford properties on Wednesday for $6.9 million. In the biggest deal, the
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Oviss family offloads another strip retail portfolio
The Oviss family has banked $18.5 million from another tranche of Melbourne strip retail investments. At a portfolio auction event,
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Eltham supermarket trades on 3.3pc yield
The founders of ASX-listed Hansen Technologies have banked $35 million – more than triple what they paid Woolworths in 2001
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Worrell, Hagen families list Mercedes Toorak dealership
The family of late car broker John Worrell, and his former business partner, Karl Hagen, are selling the Mercedes Benz
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Newmark fills ex-David Jones store, floats first fund
Mecca will move into the ground and first floor of David Jones’ outgoing menswear store, on the Bourke Street Mall.
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Elements force anticipated record breaking street auction to Leonda
The elements – specifically forecasts for flash flooding, 90 kilometre an hour winds and thunderstorms – have forced an anticipated
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Salta acquires controversial Cranbourne West industrial site
A Cranbourne West industrial site – the subject of an independent broad-based Anti-Corruption Commission investigation – has quietly sold to
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Supra Capital expands interstate
Melbourne based Supra Capital has opened a Brisbane office. The alternative lender, whose board includes Melbourne Cricket Club president Michael
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Shane Crawford lists Brighton ‘paddock’
Shane Crawford is selling the Brighton family home he bought 12 years ago as a renovation rescue. At 44 St
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Telstra lists central Box Hill site
Telstra has listed another surplus site expected to wind up in the hands of a residential developer. The 902 square
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Malvern shops smash reserve
A local investor has paid $11 million – 32 per cent over guide – for two adjoining shops in Glenferrie
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Tudor Inn sale sets yield benchmark
ALE Property Group is banking $15.66 million from Cheltenham’s Tudor Inn. The price reflects a net passing yield of 3.79
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Home of Burke Road’s oldest retailer for sale
The home of Burke Road, Camberwell’s, oldest retailer, Cavalier, is for sale. Over two storeys, with rear access to Market
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Oroton, Decjuba, Aesop commit to blue ribbon strips
A “total change” in consumer spending habits over the past 18 months is pushing rent and capital values in some
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Spiritgrow lists Caulfield North office
Spiritgrow is selling a sizeable Caulfield North office it had intended to repurpose as a community hall, synagogue and headquarters.
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ALE lists Cheltenham hotel
ASX-listed ALE Property Group is offering another hotel freehold – this time at Cheltenham. The Tudor Inn at 1281 Nepean
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Caydon sells Moonee Ponds retail investment
Two retail investments sold for low yields this week. In Altona North, a fast food restaurant held for 32 years
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Care Park lists nine investments with leasebacks
Care Park has listed nine parking lots – just under 10 per cent of its portfolio – to acquire more
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Metropolitan office markets outlook, 1H2021: Colliers
Twelve months ago, the Australian office workforce was very much settled into the work-from-home routine and many questions were being
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EG snaps up riverside Abbotsford office
EG has outlaid $27.3 million for a B-grade office on the banks of the Yarra River, in Abbotsford. The three
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Westpac-built branch could make way for five floors
The investor who in 1995 paid Westpac $1.18 million for its prominent Hawthorn branch – only to rent it back
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Developers, publican to replace Isle of Wight site
Developers Moda and Salta Capital, with pub baron Mazen Tabet – who owns the Portsea Hotel freehold – will replace
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Magic Car Wash founder sells two investments
Magic Car Wash founder Claude Roda has sold two investments with a leaseback. In the priciest deal, 1021 Burwood Highway,
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Pellicano’s Surfnplay Aqua Park no longer a joint venture
Pellicano won’t seek to replace Zagame Corporation as joint venture partner to build what would be the largest indoor water
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IOOF secures Xero for Sero
IOOF Holdings Limited has found two tenants to occupy a third of its Sero office in Melbourne’s Hawthorn. In the
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Department of Transport commits to offices for VicRoads in Ringwood, Mitcham
EXCLUSIVE The Department of Transport is renting two new offices in and around Melbourne’s Ringwood. Both premises will accommodate VicRoads
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Developers outlay $28.6 million on two ex-Melbourne government schools
Two former government schools in Melbourne’s south east have sold to developers in separate deals this month. In what may
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Sotheby’s International Realty to spread its wings under new management in Victoria
Prestige real estate agent Rob Curtain (pictured, right) has snapped up the master franchise of the Sotheby’s International Realty business
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Charter Hall resets leases with Coles for distribution centres in Adelaide, Perth
EXCLUSIVE In a surprise and strategic move, Charter Hall Group and Coles have extended tenancy terms for major distribution centres
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Fortius picks up Cammeray Square from Stockland for $39.05 million
Stockland has sold the Cammeray Square shopping centre on Sydney’s exclusive lower north shore for $39.05 million. Private Sydney-based investment
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Little Lane Learning plots timeline to develop Australia’s biggest childcare centre
Little Lane Learning – a childcare centre operator owned by Sydney-based husband and wife, Mike Wu and Shan Kuo –
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Dustin Martin, Ralph Carr, find tenant for Abbotsford commercial investment
EXCLUSIVE Premiership footballer Dustin Martin (pictured, top, as part of a Bonds Living campaign), with his manager Ralph Carr, have
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Brisbane, Melbourne childcare centres set to smash national records
A Brisbane childcare centre investment listed this month could be the most expensive sold in Australia – smashing the record
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City of Glen Eira rents Zagame family office recently vacated by failed developer Steller
EXCLUSIVE The City of Glen Eira has rented all of the Caulfield East office recently vacated by failed developer, Steller.
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United Petroleum co-founder launches Abbotsford office
EXCLUSIVE United Petroleum co-founder Eddie Hirsch has proposed an uber-green office at Abbotsford, four kilometres north-east of Melbourne. The 10-storey
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Southern Indoor Bowls Club fetches $10.26 million from developer
The Southern Indoor Bowls Club in Melbourne’s Caulfield South has sold for $10.26 million – more than $1 million over
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Southern Indoor Bowls Club lists Caulfield South home of 51-years
Postscript: this property sold in June, 2019. Read our story about it here. A year after it stopped accepting new
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Kew office sells off-market for $19 million
An investment-grade office in Kew, with significant redevelopment potential, has sold off-market for $19 million. The three-level building at 79-83
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Royal Antediluvian Order of Buffaloes pays $1.6 million for prominent Caulfield South HQ
The Australian order of the Royal Antediluvian Order of Buffaloes (RAOB) has paid $1.6 million for a new headquarters at a
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Camberwell’s Sofia restaurant earmarked for an eight-storey apartment building
An application is being reviewed to build an apartment tower on two neighbouring Camberwell sites – including the suburb’s famous
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Vision Australia banks an enormous profit with c$35m sale of Melbourne HQ
Vision Australia has sold an inner-Melbourne office for a speculated price of about $30 million to $35 million – a
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MAB Corporation buys adjoining Melbourne warehouses to replace with an office building
MAB Corporation has paid more than $7 million for a development site in inner-east Melbourne. The builder, established and owned
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Textile entrepreneur Michael Cohn sells one of Melbourne’s two inner-city working vineyards for eight-figure sum
Businessman and wine maker Michael Cohn, with his wife, Ann, have sold one of just two inner-city Melbourne residential homes
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Scotch College expands its sprawling campus spending $3.2m on another neighbouring home
Prestigious Melbourne school Scotch College is said to have outmuscled residential buyers to snap up another Hawthorn home – allowing
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Bunnings Pays $25 Million For Doncaster Supersite
HARDWARE giant Bunnings is believed to have paid about $25 million for a collection of adjoining sites abutting a major entrance of Westfield Doncaster shopping centre, about 14 kilometres east of town.
The ASX listed company is planning to build a warehouse on the 1.1 hectare supersite though a permit request has not yet been lodged with council.
Bunning’s parcel includes a 5250 square metre former service station site at 659 – 667 Doncaster Road which was until recently earmarked to become a major apartment tower. It also acquired the site next door, a 7-Eleven convenience store, at 669 – 671 Doncaster Road at the north-west corner of Council Street.
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Former Austcorp Wheelers Hill Site Hits The Market With Permits
ANOTHER prominent development site has been listed for sale in Melbourne’s east.
This time, at the south-west corner of Jells and Ferntree Gully roads, in Wheelers Hill (aerial of the site, right), Ammache Architects is selling an 8106 square metre block with plans and permits for a four-level, 131-unit apartment complex.
Ammache paid $4.3 million for the Wheeleres Hill site in August 2009, but is said to be seeking about $10 million for the block now.
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Aerial Penthouse, Camberwell, Expected to Fetch About $4 Million
Queensland born and now Sydney-based developer FKP has listed for sale the one and only penthouse within its contentious Aerial project, at the Camberwell Junction, in East Hawthorn (pictured, right).
The 388 square metre unit is at the top floor of Aerial’s west tower and includes four bedrooms, four car spaces and a 128 square metre balcony. It also has floor-to-ceiling windows offering uninterrupted city skyline views.
The Victorian Civil and Administrative Tribunal approved Aerial in early 2008, and then in 2009, allowed the developer to increase the number of units within the development by 40 per cent, to 144.
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Caydon Reportedly Behind $16 Million Brunswick Development Site Purchase, Melbourne
LOCAL builder Caydon has purchased another major development site, this time in Brunswick East, and at the suburb border of Carlton North and Fitzroy North.
The Collingwood based developer is understood to have paid about $16 million for a one hectare disused factory at 21 – 27 Brunswick Road, near the corner of Nicholson Street where it is completing another project.
Caydon is reportedly planning to redevelop the old factory site into a $120 million village of apartment towers, shops and offices.
At that value, the project will be even bigger than the controversial Tip Tip factory redevelopment around the corner, being undertaken by Toll boss Paul Little’s building arm, Little Project Development.
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Private Sector to Develop Melbourne’s Next Hospital
MELBOURNE’s next hospital and major medical clinic will be developed by the private sector in Hawthorn.
The City of Boroondara council has issued a permit allowing for the former VECCHI building at 50 Burwood Road to be converted from offices into a 40-bed hospital, and associated medical centre allowing up to 15 practitioners.
Sydney-based Healthbridge, a health based fund of manager Ironbridge, outmuscled several residential property developers to buy the prominent Hawthorn site for $17.1 million in April. It struck a deal to relocate the office tenants that were still based at the office, while pushing its conversion plans with council.
Read moreR.Corporation Buys Cheltenham Site For Speculated $20 Million
BOUTIQUE builder R.Corporation has purchased its first major development site since the 2008 economic downturn, and is said to be planning a $150 million-plus mixed use village which would be amongst the biggest projects in the developer’s portfolio.
The South Yarra based developer, headed by Andrew Rettig, is understood to be paying about $20 million, sources estimate, for a vacant four hectare site at 98 – 116 Cavanagh Street in Cheltenham, 20 kilometres south east of town.
R.Corporation is reputedly planning to replace the site with a mix of shops, offices and apartments.
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FKP Gets Started on $600 Million Saltwater Coast Estate, Point Cook
IT was one of the most prized assets in the substantial portfolio of Hawthorn-based Wilbow Corporation, when that developer put itself up for sale four years ago.
And now, construction of the first homes in the $600 million village that is Melbourne’s newest waterfront community, is set to begin.
Queensland-based developer FKP has distributed land titles for the first 87 home lots, part of its Saltwater Coast project in Point Cook, about 20 kilometres south-west of town.
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Hamton, ISPT Forge With Plans to Develop $200 Million Riverfront Village, Abbotsford
THE development consortium which bought three low-rise offices on the banks of the Yarra River, is forging ahead with plans to demolish two of the buildings, and replace the space with a $200 million residential village.
Developers Hamton and Industry Superannuation Property Trust have started marketing apartments at 677 – 679 Victoria Street, opposite the Victoria Gardens shopping centre in Abbotsford, at the suburb border of Kew and Hawthorn.
The developers are reported to have paid Becton about $30 million for the office complex late last year, outmuscling traditional property investors sniffing the market out at the time for good bargains.
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Top Melbourne Suburbs to Invest, For Budgets of Less Than $500,000
MELBOURNE’s once booming real-estate market has finally decelerated – and for the first time in a long time, buyers are calling the shots.
If you have a secure job, low debt and a will to own real estate – banks, developers and the Government want to talk.
But a word of advice: if you do take the plunge, spend what you can afford, rather than the maximum amount you can borrow.
Saturday Domain talks to some experts on which suburbs you should look at, no matter what your budget:
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Camberwell Junction’s Former Henley Honda Site to be Developed Within Months
FKP Property Group expects to start marketing apartments on its controversial former Henley Honda site at the Camberwell Junction within months.
The Victorian Civil and Administrative Tribunal has approved a revised proposal by FKP, in which it asked to build 38 more apartments within the walls of two apartment towers it won approval to build last year.
An FKP spokesman said “significant changes” in the property market in the latter part of last year, led the Queensland-based developer to change 2008-approved plans for the East Hawthorn project branded Aerial.
Glenbrae Equestrian Centre for sale
A horse training centre developed by former Hawthorn Premiership captain Don Scott in the mid 1990s is for sale asking
Read moreHistoric Cestria to be Sold as Part of Bellwater International Sell-Off
A Hawthorn mansion described by the National Trust of Australia as the greatest American Romanesque Revival house in the country is on the market.
Read moreMelbourne’s best performing suburbs this year
This past year has seen median house prices slowing in most Melbourne suburbs – but some areas are bucking the trend.
Read moreBay Street Brighton Project Gets Green Light
Residents of North Brighton may find they are living in the middle of a construction zone later this year, when prominent local developer Gillon Group and Sydney-based listed property giant Abacus Property Group expect to start building a $38 million shopping centre and office building in Bay Street.
Read moreDamgar Group Takes Punt For Glen Iris Office Building
The Damgar Group is taking a punt on an untapped suburban office market, announcing plans for Creswick Malvern, a $24 million office building in Melbourne’s south-east.
Read moreApartment Buyers Looking South of the Yarra for Choice
Marshall White director and selling agent Marcus Chiminello has been recruited to move residents from luxury apartments in Stonnington, south of the Yarra River, to similar quality apartments in Boroondara, north of the water.
Read moreReport Card: Performance of Melbourne’s Real Estate Market in 2008
Poor turnouts to auctions.
Fewer bidders. And a generally high level of caution.
The performance of Melbourne’s real estate market since our Spring review six months ago has caught sellers, buyers and agents by surprise.
Read moreRow of Shops in Ivanhoe Sells For $5 Million. Redevelopment Imminent
A private developer has paid $5 million at auction for a row of six shops with redevelopment potential in Ivanhoe East’s Lower Heidelberg Road retail strip.
Read moreRecord Number of Multimillion Building Permits Issued
Melbourne’s million dollar housing club has grown to seven suburbs having at least five $1 million plus building permits issued in 2006/07.
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Where do Australian Open players stay in Melbourne?
The days of spotting Australian Open competitors shopping around Ormond Road Elwood, Glenferrie Road Hawthorn or in Toorak Village, are
Read moreBalwyn & Balwyn North Suburb Profile
The leafy suburb of Balwyn, and the neighbouring suburb of Balwyn North, are located about 16 kilometres east of the Melbourne CBD.
Read moreLooksmart Founder Turned ALP Member Smashes Record for Kew House
Described as one of the 100 most influential people in the digital world, businessman turned politician Evan Thornley, and wife Tracey Ellery, are believed to have quietly smashed the record for a house price in Kew.
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