Peregrine Projects sells Carlton Brewhouse, in Abbotsford, for $10 million

Joseph Chahin’s Peregrine Projects has sold the Carlton Brewhouse for a speculated price of over $10 million.

The land holding – spreading 2291 square metres – offers enormous development upside.

It includes a 1035 sqm single-storey building, built in 1997, and an open-air car park.

Leased until December 2019 to Carlton & United Breweries, whose landmark manufacturing plant is across the road, 11-17 South Audley Street is also walking distance to the Yarra River and Victoria Gardens shopping centre, about three kilometres north-east of the CBD.

Vinci Carbone’s Frank Vinci and Joseph Carbone marketed the property for Mr Chahin, a predominantly residential builder, who acquired it in 2016.

Rumours are that it is selling to an Asian development group with extensive interests in Melbourne.

The AEU is hoping to achieve a price of about $20 million from the sale of this Abbotsford office.

On Monday we reported that an offshore investor paid Lascorp Group and the Herzog family $37.3 million for an Abbotsford office and car park, also with development potential.

Last month, service station owners Avi Silver and Eddie Hirsch offloaded a historic former shoe factory at 198-210 Hoddle Street, in the suburb, for a speculated price of about $10 million.

The wealthy Holckner family also sold an office in the suburb: we reported that 64-78 Trenerry Crescent is selling for some $40 million.

The Australian Education Union’s Victorian division is hoping to profit from recent demand in the suburb. Early this month we reported that it listed for sale one of two neighbouring properties it owns on Trenerry Crescent, a deal expected to yield about $20 million.

 

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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