Malaysian Investors Buy Prominent Bourke Street Mall Building For $17 Million
ONE of the Melbourne CBD’s most prominent retail buildings has sold to Malaysia-based investors for $17 million.
The distinctive Bradmans Handbags building at the corner of Bourke and Swanston streets was sold by a family trust associated with former Melbourne Lord Mayor Sir Edward Leo Curtis, which has owned it since 1960.
Based on the building’s annual rent of $813,157, the asset sold on a yield of 4.78 per cent.
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DEVELOPER CBus Property has secured the National Australia Bank as tenant for an as-yet-undeveloped office in Docklands.
PHILLIP Island’s fairy penguin colony will be protected forever, with the completion of a controversial compulsory home acquisition program in a precinct on the south-west corner of the island known as Summerland.
THE Melbourne CBD skyline will have a Eureka of the north, if a proposed 90-storey skyscraper is granted approval, on part of the former Carlton and United Brewery site, in Carlton, and on the cusp of the city grid.
HONG Kong based developer Far East Consortium is ready to redevelop one of the Melbourne CBD’s biggest remaining development sites.
A LUXURIOUS homestead near Wilsons Promontory – occupied by Crown-Prince Frederik of Denmark during the Olympic Games and immediately after he met his wife-to-be, Mary – has hit the market.
THINGS are about to get a lot busier around the Camberwell Station.
A CONSORTIUM which retained a swag of apartments and townhouses built within the walls and around the garden of Portsea’s landmark Delgany estate, has put that portfolio on the market.
LEXUS of Blackburn – whose radio advertisements wake tens of thousands of Victorians ahead of 3AW’s popular Rumour File – has itself settled speculation it has made a major property play.
THE State government has outbid a brigade of owner occupiers to snap up a hot office building in the heart of Melbourne’s south-eastern suburbs, which will eventually become home to the Melbourne Fire Brigade.
MELBOURNE’s next hospital and major medical clinic will be developed by the private sector in Hawthorn.
LAVERTON North’s former McCubbins Pet Food Factory has sold for about $6 million to Queensland based pet food mogul and multi-millionaire, Tony Quinn.
SYDNEY-based developer Mirvac will launch its sixth Docklands skyscraper, Yarra Point, in October.
CHAPEL Street’s historic Conways Building sold at auction on Thursday for $12.8 million.
FUND manager and developer Zig Inge Group is believed to have paid close to $18 million for a rundown but spectacularly located office investment at 199 Toorak Road in South Yarra.
ANOTHER suburban post office is being redeveloped into flats.
A SLITHER of land behind one of Southbank’s oldest and grandest buildings – the former JH Boyd Girls’ High School – will make way for a major skyscraper, set to become a landmark near the busy intersection where the West Gate Freeway merges with Kings Way.
HAVING opened the Stockland Tooronga Shopping Centre in Glen Iris on Thursday, Sydney-based developer Stockland has bought forward plans to build a $40 million, 7087 square metre complex in Melbourne’s outer north.
THE Office of Housing has paid close to $4 million for a disused aged care facility in Box Hill.
MELBOURNE’s western suburbs may be notorious for its hoon drivers – but for at least one tract of privately owned land in Altona North, thrashing a car may soon be encouraged.
DEVELOPER and fund manager Becton is still in a selling mood.
CONSTRUCTION of the city’s next major office tower will start in February, after seven, strata titled levels of a proposed buidling sold “off-the-plan” to owner occupiers, in a pre-marketing campaign.
MIRVAC was one of many land owners celebrating the State Government’s decision last month to substantially extend Melbourne’s Urban Growth Boundary.
THE Paris end of the Melbourne CBD is set to see the construction of a new apartment skyscraper.
AFTER failing to sell for more than a year, a massive Williamstown development site with a catch will be auctioned next month.
PLANS for a new $12 million clubhouse and hotel resort at the prestigious Portsea Golf Club have teed off, officially, after the Club successfully sold enough of its land to fund the new development.
A MAJOR development site offloaded by the State Government six years ago for $2.8 million, has hit the market again, and is expected to sell for almost twice that amount.
THE family home of late broadcaster and reporter Michael Schildberger has been listed for sale.
FASHIONISTA Alannah Hill has stitched up $1.68 million from the sale of a three-level St Kilda apartment she bought in 2004 as an impulse buy.
AN estate developed in the 1950s by the Camms family, of Monbulk Jam fame, has hit the market.
THE timing of last week’s Urban Growth Boundary changes couldn’t have come at a better time for the syndicate of investors selling Melbourne’s biggest development site, measured by area.
HONG Kong based company director Sheena Wong is selling a penthouse apartment on Brighton’s waterfront.
A CENTURY old home in St Kilda’s ritzy St Leonard’s Avenue has hit the market for the first time since the 1960s.
IF YOU like the idea of living at Docklands, but aren’t sold on moving to a high rise apartment – then one of a handful of terrace homes at Mirvac’s Yarra’s Edge precinct might be for you.
BECTON Property Group has finally offloaded the prominent Beaumaris Pavilion hotel and adjoining car park, in Melbourne’s south.
IN another sign yuppies are replacing the student and working class-base that once defined Parkville and Carlton culture– the Naughton’s Hotel building is being offered for lease, targeting high-end tenants that can reposition the pub as a fancy restaurant.
PENGUIN Books is understood to be in advanced negotiations to lease new offices in Melbourne’s inner west.
MACQUARIE Office Trust is about to test drive the performance of the commercial property markets, listing for sale an office investment overlooking the challenging Schumacher and Piquet bends of the F1 Albert Park race track.
COLONIAL First State is selling a suburban shopping strip, next door to its massive Forest Hill Chase Shopping Centre, in Melbourne’s east.
FOR the second time this month, an Asia-based developer has purchased a prominent Victorian golf course, and is proposing to build a $55 million hotel, apartment-based complex and new 18-hole golf course, next door.
GONE are the days when St Kilda Road complexes were limited to about 12 levels.
STAFF of the Federal Government’s divisive $43 billion National Broadband Network program – which earlier this year leased luxury offices in one of Melbourne’s few “Premium” grade office buildings – will soon have new neighbours.
THE Monash City Council didn’t want it – but Planning Minister Justin Madden did – and now one of the south-eastern suburb’s biggest public-private housing developments is set to start construction soon, in Clayton.
IT might have seemed like just another inner-city development site sale, but it’s actually the end of an era.
HAWTHORN East’s former Preshil School site has re-opened as a small, new housing estate.
IT was described as the “best bargain development site” to sell during the economic downturn, and now builder EG Funds Management is ready to cash in.
A CHINA-based developer is believed to be paying more than $100 million for what is the biggest development site put to the Melbourne market in recent years.
AFTER picking up a prominent eastern suburb development site at a particularly depressed time in the property cycle last year, fast food chain McDonalds is readying to play property developer.