CBUS Property Buys Former North Brighton Croquet Club

CBUS Property, a subsidiary of industry superannuation fund CBUS, has seized control of one of bayside Melbourne’s most controversial development sites – the disused North Brighton Croquet Club, in Warleigh Grove.

CBus, which represents workers in the construction and building industry, has paid $18.6 million for the 9015 square metre site and, having grabbed the mallet proverbially, immediately pitched plans to build a high-end, high-density residential complex with flats and townhouses.

The completed product could have an end value of more than $150 million, sources speculate, making it one of the biggest projects to start construction in Melbourne’s bayside suburbs.

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CBUS to Build New NAB Office at Docklands

DEVELOPER CBus Property has secured the National Australia Bank as tenant for an as-yet-undeveloped office in Docklands.

The 61,000 square metre, 15-level tower is set to be developed at 700 Bourke Street, and near National Australia Bank’s world headquarters, on Victoria Harbour (at 800 Bourke Street) which it first committed to a decade ago.

The new building will also include a child care centre, and retail, according to a CBUS media release, and published on the Melbourne Docklands website.

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CBUS Buys Half Share in 171 Collins Street Development

171 Collins StreetAS reported in The Age last year, CBUS Property has confirmed it is the mystery buyer of a half share interest in Melbourne’s 171 Collins Street development.

CBUS has paid Sydney-based owner Charter Hall $15.5 million, to take its share in the $280 million office development, which challenged a previous planning precedent, restricting height around the “Collins Street spine”.

It’s understood the developers are targeting the National Australia Bank which has a 40,000 to 60,000 square metre requirement in the market at the moment.

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