Fairfax, News Limited to Sell Property Assets

Fairfax saviour: entrepreneur Gina Rinehart

CHANGES to the media landscape announced this week will result in a shake-out of commercial assets all over Melbourne.

Fairfax, publisher of The Age, is expected to make between $20 – $25 million for its high-tech printing and distribution facility near the Melbourne Airport in Tullamarine, abutting the Tullamarine Freeway (pictured, below).

Fairfax paid $5.6 million for the six hectare piece of former farmland in 1999 – then spent another $220 million building the existing printer which included machinery from Germany and Switzerland.

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Lexus Buys Former News Limited and Cottees Facility, Blackburn

160 Whitehorse Road AerialLEXUS 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 prestige car dealership is understood to have paid about $12 million for News Limited’s former Leader Newspaper facility at 160 Whitehorse Road, near its existing facility at 146 Whitehorse Road.

Lexus will develop an iconic, new car facility on the site at the corner of Railway Road and near the Blackburn train station – set to highlight the brand’s environmental credentials.

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News Limited to Sell Blackburn’s Former Leader Newspaper Offices, Melbourne

NEWS LIMITED can expect to make about $12 million from the sale of an outgoing eastern suburbs office site, used for years by its Leader Newspaper staff.

The prominent 8,767 square metre site, on the corner of Whitehorse Road and the busy Railway Parade, in Blackburn, has a total road frontage of 162 metres.

One sixty Whitehorse Road could make way for several types of projects including medium and high density apartments, or offices, with ground floor retail.

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