Bourke Street – realestatesource

Melbourne’s 206 Bourke Street Hits Market: $100 Million Expected

July 3, 2011 Marc Pallisco Bourke Street, Cromwell, Les Smith, Macquarie Bank, Melbourne CBD development site sale, Melbourne CBD Shopping Centre Sale

IT’S been a major department store, a flagship city-cinema complex and a problem development site.

And now – 206 Bourke Street is set to be Melbourne’s next nine-figure offering.

Private developer Les Smith with joint venture partner Macquarie Bank are selling the major 3140 square metre city block known between 1985 and 2005 as the Village City Centre, and occupied by the cinema as offices until mid-2008.

Victoria

Coles to Sell Target Centre, Bourke Street, Melbourne

March 3, 2011 Marc Pallisco Bourke Street, Coles, Melbourne CBD retail sale

WESFARMERS owned retail giant, Coles Group, is expected to make about $100 million from the sale of a prominent Bourke Street retail complex in the Melbourne CBD.

Coles will sell the 1982 Target Centre building (pictured, right) with a 20 year lease to Target. The complex also includes speciality retail stores, currently leased to Jetstar and Monash University.

Coles is expected to spend funds raised from the sale into its supermarket operations.

Victoria

REST Close to Buying 717 Bourke Street Office For $240 Million

October 31, 2010 Marc Pallisco babcock & brown, Bourke Street, Docklands Office Sale, Global Campus Management, Melbourne CBD office sale, Metier3, network nine, REST, Retail Employees Superannuation Trust

A CONSORTIUM including Babcock & Brown, education facility Global Campus Management and design firm Metier3 are believed to be close to offloading a Melbourne office for about $240 million.

The distinctive 37,000 square metre office at 717 Bourke Street will soon be recognised as the new home of Network Nine, which leased space at the Docklands building after selling its long time home at Bendigo Street Richmond to Lend Lease.

BP Australia, AIG, Marsh Australia, Telstra and the Financial Ombudsman Service are other tenants at 717 Bourke Street.

Victoria

Radstock and Kendall Furniture Goes West in Melbourne

August 23, 2010 Marc Pallisco Bourke Street, Melbourne CBD Retail Lease, valad

Upmarket furniture and homeware retailer Radstock + Kendall will vacate its prominent retail space at the Georges building at 162 Collins Street, and lease about 250 square metres at the ground floor of Valad’s 575 Bourke Street office tower.

Knight Frank retail leasing director Gary Loo said the retailer is following office workers and city shoppers which are increasingly commuting around the western edge of the CBD.

He said interstate travelers accessing the CBD from Southern Cross station was another factor driving tenant interest in the area.

Victoria

RACV Pays $42 Million For Eagle House, Bourke Street

February 8, 2009 Marc Pallisco Bourke Street, RACV Pays $42 Million For Eagle House, Real Estate News, victoria

Motoring mutual the Royal Automobile Club of Victoria has paid $42 million for a 15-level office building, abutting its 501 Bourke Street headquarters.

Victoria