Foster’s move raises speculation it will eventually offload its iconic CUB Brewery site, which sits on 9 hectares of riverfront land overlooking Kew’s Studley Park. Industry insiders are divided about whether this will happen.Read more
A MASSIVE and prime located substation which pumps electricity to the inner-southern suburbs is expected to sell for more than $4 million as an investment, now, and a possible development site in the long-term. The brown brick building at 99 – 101 Dodds Street in Southbank is occupied by electricity distributor Citipower, which has eight yearsRead more
A.P.Eagers Limited has announced the sale of its property at 100 McLachlan Street, Fortitude Valley in Queensland to a subsidiary of Laing O’Rourke, the United Kingdom’s largest privately owned construction firm, for a price of $21.5 million.
The sale contract is unconditional, with settlement due on 22 June 2009.Read more
PLANS to develop a giant football academy on a former golf course, in the south-western Sydney suburb of Liverpool are still on track, despite banks putting the property on the market for $6 million as a mortgagee in possession.
Property developer Eddie Parilio said he expects to pay out money owed on the property, before the end of the property’s marketed tender. A repayment would give him back clear possession of the property, and allow him to proceed with redevelopment plans.Read more
ALMOST $17 million in suburban service stations changed hands this week on low yields, as demand from private investors for securely leased retail assets intensified.Read more
PRIVATE health insurer Defence Health can expect to make $6.5 million from the sale of a prominent St Kilda Road office within walking distance to the Flinders Street station.
Defence Health is the latest in a string of companies to list formerly owner-occupied buildings for sale, while it rents elsewhere.
Defence Health’s outgoing office three-level office at 344 St Kilda Road, opposite the Shrine of Remembrance is being marketed by Colliers International’s Ben Christie.Read more
A syndicate of private investors said to include former Collingwood footballer Damian Monkhorst is believed to have paid $12.5 million for the former Coogi Knitwear factory at 49 – 65 Coppin Street in Richmond in an off-market deal.Read more
The much hyped sale process of Channel Nine’s Richmond studio is no closer to starting, with some industry players now saying it won’t be sold until next year.Read more
After announcing it would wind down its local manufacturing base, sleepwear and leisurewear clothes manufacturer Givoni is selling its Sandringham headquarters.Read more
Sydney-based car auction group Pickles Auctions has paid $14 million for the former Modern Line Furniture centre in McIntyre Road Sunshine.Read more
Administrators for failed property development company Westwater have recovered almost $11 million from the sale of two residential development sites, purchased just before the company went belly-up.Read more
THE pocket around South Melbourne Market may see yet another crane, if developers buy the Southern Cross Hotel on the south-west corner of Cecil and Market streets, on the suburb border of Southbank.
The double-storey hotel will be sold later this year with vacant possession, meaning prospective hotel operators will have to compete with developers, who could propose a medium or high density apartment tower for the site. It is expected to sell for about $2 million.