REIV buys replacement HQ

Centrelink previously occupied the modern Abbotsford office.

The Real Estate Institute of Victoria – which represents real estate agents – has snapped up a modern strata office for its replacement headquarters, in Abbotsford.

Victoria Gardens is set for a $900 million revamp with apartments.

The group is paying c$10 million for the 1658 square metre space with 52 car parks – an ex-Centrelink – forming the lower levels and basement of an apartment building at 617 Victoria Street.

Salta is the vendor – Sam Tarascio Junior is completing the job his father started revitalising the pocket, near the Yarra River, including the ex-Melbourne Fire Brigade training centre.

As well as offices and dwellings, it built the Victoria Gardens shopping centre, now co-owned with Vicinity – and earmarked for more apartments.

Allard Shelton’s Joseph Walton – REIV president between 2016-2020 – with Gorman Commercial’s Peter Bremner were the agents (story continues below).

The REIV sold its Camberwell headquarters for decades last December with vacant possession.

A standalone office with 2070 sqm on 3808 sqm with 60 car parks at 335 Camberwell Rd, it traded for $26m to developer Angle.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of