Prominent Melbourne CBD Corner Sells For $10.75 Million

A LOCAL private investor has paid $10.75 million for a historic property at the south-west tip of the CBD.

The former Sir Charles Hotham Hotel (pictured, right), later rebranded the Hotham Private Hotel, and now the All Nations Backpackers, occupies sites at 2-8 Spencer Street and 566-580 Flinders Street, near the Yarra River.

On an 833-square-metre site, the property has been offered for sale at various stages over the years, but a lease expiring in 2018 is believed to have deterred residential developers.

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Southbank’s Next Major Skyscraper on its Way

Former QBH nightclubNOTORIOUS nightclub QBH will be converted into a luxury display suite, for the Southbank riverfront’s next major apartment tower.

Last week, advertising started for the proposed 66-level, 616-unit Prima Pearl Apartment complex, at 31 – 49 Queensbridge Street.

The project is being proposed by furniture magnate and property developer Tony Schiavello, who recently paid $10 million for the QBH club, at 1 Queensbridge Street, near the Prima Pearl site.

The QBH property has direct Yarra River frontage – and as such, redevelopment potential down the track.

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Gordon Ramsay’s Maze Restaurant Opens in Melbourne

SWEARING chef Gordon Ramsay has opened his first Australian restaurant, at Crown’s new $300 million Metropol Hotel, in Melbourne.

The 300 seat restaurant opened in late March, but the chef attended the official launch of the Crown hotel in May.

The Maze at Crown restaurant focusses on delivering better value for money meals, than the high-end dishes the celebrity chef was dealing, when he first agreed to lease space in Melbourne, a couple of years ago.

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Central Equity Pays Crown Casino $13.1 Million For Southbank Site

MAJOR apartment developer Central Equity has purchased Crown Casino’s outgoing training college in City Road, Southbank.
 
The former ASX-listed developer, now commandeered by directors Eddie Kutner, Dennis Wilson and John Bourke, paid $13.5 million for the site this week.
 
The property includes two historic buildings between 141 and 155 City Road, and sits on 2,527 square metres of land. Sources expect the site to be redeveloped into at least two apartment towers, but this could not be confirmed with a Central Equity representative, who was unavailable for comment. CB Richard Ellis marketed the site.

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