Little Collins Street – realestatesource https://www.realestatesource.com.au Commercial and residential property news Mon, 08 Feb 2021 22:42:33 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Little Collins Street – realestatesource https://www.realestatesource.com.au 32 32 Tom Gunn Shoes Signs One of Melbourne’s Smallest Retail Lease Deals https://www.realestatesource.com.au/tom-gunn-shoes-signs-one-of-melbournes-smallest-retail-lease-deals/ Fri, 06 Jul 2012 04:58:09 +0000 http://realestatesource.com.au/wordpress/tom-gunn-shoes-signs-one-of-melbournes-smallest-retail-lease-deals.html ONE of the country’s smallest lease deals has taken place in the Melbourne CBD.

Shoe label Tom Gunn has reportedly leased 22 square metres of space within one of the city’s famous laneways – Howey Place, off Little Collins Street.

The AFR reports the rent is $4318 per square metre, per annum – or about $95,000 a year.

]]> Lorna Jane Leases Hundredth Store in Little Collins Street https://www.realestatesource.com.au/lorna-jane-leases-hundredth-store-in-little-collins-street/ Sat, 09 Apr 2011 04:08:18 +0000 http://realestatesource.com.au/wordpress/lorna-jane-leases-hundredth-store-in-little-collins-street.html WOMENS activewear retailer Lorna Jane has chosen a former city boutique to establish its hundredth store.

Established in 1989 by businesswoman Lorna Jane Clarkson, the retailer is embarking on an aggressive growth strategy, saying it wants to open another 25 stores nationally this year.

The 111 square metre shop at 267 Little Collins Street (pictured, right) was recently vacated by Pierucci.
]]> Colliers International’s Ben Tremellen would not comment on the rent struck, but the shop was previously advertised asking some $330,000 per annum – or just over $3000 per square metre.

]]> Dexus Proposes Major New Little Collins Street Office, Melbourne https://www.realestatesource.com.au/dexus-proposes-major-new-little-collins-street-office-melbourne/ Tue, 05 Apr 2011 04:00:08 +0000 http://realestatesource.com.au/wordpress/dexus-proposes-major-new-little-collins-street-office-melbourne.html SYDNEY-based fund manager Dexus Property Group has lodged plans to build a 15-level, 25,000 square metre office building on a forecourt behind its prominent 360 Collins Street office tower in the Melbourne CBD - near the popular Zuffa cafe (pictured).

The proposed new development would be bound by Little Collins Street, Briscoe Lane, and Collins Way, and its office occupants would stare down the McKillop Street restaurant and retail strip.

It could go some way to putting Little Collins Street "on the map" as a major corporate boulevard like part-namesake Collins Street.
]]> Given the size of Dexus’s proposal, the application has bypassed Melbourne City Council and been referred to the the Department for Planning and Community Development. It would need to be approved by planning minister Matthew Guy.

]]> End of the Road For Naval and Military Club Building https://www.realestatesource.com.au/end-of-the-road-for-naval-and-military-club-building/ Fri, 24 Dec 2010 04:06:39 +0000 http://realestatesource.com.au/wordpress/end-of-the-road-for-naval-and-military-club-building.html IT MUST be with a great deal of despondency former members of the recently defunct Naval & Military Club “keep under surveillance” what is happening at their former headquarters, at 27 Little Collins Street, Melbourne.

The mission-brown building was sold by receivers to Chinese developers during the economic downturn, and after a series of legal disputes prevented the NMC organising a joint venture partner to redevelop the site into a club room, hotel and apartment tower.

NMC’s proposed redevelopment was expected to save its future – and indeed give it an income stream which could have allowed it to grow.
]]> It must be with a great deal of despondency former members of the recently defunct Naval and Military Club “keep under surveillance” what is happening at their former headquarters, at 27 Little Collins Street, Melbourne.

The mission-brown building was sold by receivers to Chinese developers during the economic downturn, and after a series of legal disputes prevented the NMC organising a joint venture partner to redevelop the site into a club room, hotel and apartment tower.

NMC’s proposed redevelopment was expected to save its future – and indeed give it an income stream which could have allowed it to grow.

But instead NMC collapsed and private developer Golden Age picked up the site for a bargain $10 million last July.

Golden Age has since proceeded with plans to redevelop the site into something very similar to what NMC had proposed (and which the neighbouring Melbourne Club famously opposed).

A proposed image of its tower is below.

It told Capital Gain this week 80 per cent of apartments within the 32-level tower have sold, allowing construction to start within weeks. A total of 188 dwellings, over 17 levels were available for investors to occupy. Colliers International marketed these units.

Another 170 accommodation rooms, as well as a day spa, pool and signature restaurant will spread over the remaining 15 levels, and be managed by boutique hotel operator Sheraton.

]]> Becton sells Melbourne office https://www.realestatesource.com.au/becton-understood-to-have-sold-melbourne-cbd-office/ Sat, 16 Oct 2010 04:21:51 +0000 http://realestatesource.com.au/wordpress/becton-understood-to-have-sold-melbourne-cbd-office.html EAST Melbourne based developer and fund manager Becton is understood to have sold another office asset, this time in the CBD.

Becton is speculated to have reaped about $18 million from the sale of 422 Little Collins Street. On that assumed figure, the group made a loss on the $22.2 million it paid Vicland for the asset four years ago.

The eight-level, 5246 square metre building is 98 per cent leased, with education service provider Cambridge International College the largest tenant. The asset returned almost $1.7 million per annum in rent, and is understood to have sold to a private investor.
]]> Becton is understood to have sold Melbourne’s 422 Little Collins Street for $16.25 million.

The developer and fund manager paid Vicland $22.2m for the office four years ago.

The incoming owner, a private investor, is picking it up on a 10.3 per cent yield.

Over eight floors it contains 5246 square metres of lettable area, 98pc of which is occupied (story continues below).

Cambridge International College is the biggest tenant.

The complex was constructed in 1990 as the RACV Club administration office.

Allard & Shelton’s Joseph Walton and Patrick Barnes represented Becton.

]]> Becton lists 422 Little Collins St https://www.realestatesource.com.au/becton-to-sell-422-little-collins-street/ Thu, 26 Aug 2010 04:09:36 +0000 http://realestatesource.com.au/wordpress/becton-to-sell-422-little-collins-street.html 422 Little Collins StreetDEVELOPER and fund manager Becton is still in a selling mood.

This time, the East Melbourne-based group is offloading a Little Collins Street office building it bought from Vicland for $22.2 million in September 2006.

The 422 Little Collins Street office is expected to fetch about $17.5 million this time around, reflecting a yield of about 10 per cent based on the assets approximate annual income of $1.75 million.
]]> Becton is selling the 422 Little Collins Street office it picked up Vicland four years ago.

The developer and fund manager paid $22.2m in September, 2006.

It can expect $17.5m this time around – a 10 per cent market yield.

Allard & Shelton’s Joseph Walton and Patrick Barnes are the agents (story continues below).

Earlier this month Becton offloaded the Beaumaris Pavilion site to St Kilda footballer Sam Gilbert and hotelier Simon Lennox for a speculated $9m; it acquired that property with plans for aged care investment on a vacant tract.

The builder also recently sold its East Melbourne headquarters for c$27m, 466 Collins St ($21m) and 606 St Kilda Road (c$25m).

It collected another $30m during the economic downturn from riverside Abbotsford offices.

]]> Apartments at Naval and Military Club Redevelopment Hit the Market https://www.realestatesource.com.au/apartments-at-naval-and-military-club-redevelopment-hit-the-market/ Mon, 23 Aug 2010 04:51:44 +0000 http://realestatesource.com.au/wordpress/apartments-at-naval-and-military-club-redevelopment-hit-the-market.html THE Paris end of the Melbourne CBD is set to see the construction of a new apartment skyscraper.

The former Naval & Military Club at 27 Little Collins Street will be demolished and replaced with a 32-level tower, targeting two types of high-end buyers.

Levels 15 to 25 of the new building will include 142 apartments priced from $385,000 for a one-bedroom, and $580,000 for two-bedroom apartments.

Larger, luxury apartments will be developed between levels 26 and 30, where one bedroom flats start at $590,000 and two-bedroom apartments, from $1.087 million.

A penthouse occupies the highest floors, while the lowest 14-levels will trade as a hotel, flanked by ground floor shops.
]]> Colliers International director Tim Storey said the sculptural form of the proposed new building presents an aesthetic that reflects a contemporary response to the sinuous lines of the Paris Art Nouveau.

The tower was approved for development earlier this month, and despite a complaint from The Melbourne Club next door, that a skyscraper could harm the health of a London plane tree in its rear garden.

The 128-year old Naval & Military club went into administration early last year. The site sold to Chinese developers for a speculated $10 million last July.

]]> Bank Sells Naval & Military Club City Headquarters, Little Collins Street https://www.realestatesource.com.au/bank-sells-naval-a-military-club-city-headquarters-little-collins-street/ Sat, 09 May 2009 14:00:07 +0000 http://realestatesource.com.au/wordpress/bank-sells-naval-a-military-club-city-headquarters-little-collins-street.html THE property developer that thwarted the sale of the Naval and Military Club's headquarters last year has quietly bought the 1960s city building for what is believed to be a big discount to its original offer.

]]> Sources say developer Southraw has agreed to pay between $7.5 million and $8 million for the building at 27 Little Collins Street, which is likely to become a high rise apartment building and luxury hotel.

SOuthraw had agreed to pay $9.3 million for the site last Apriland paid a $500,000 deposit, but failed to settle after contract variations and extensions. The 128-year old Naval & Military Club went into administration in February.

Prior to its collapse, the Naval & Military CLub was unsuccessful in an attempt to remove a caveat Southraw had over the property’s title, that prevented it from resale.

Under development plans for the site, the Naval & Military Club would occupy a small portion of a new 24-level apartment and hotel development. Funds used from the sale of the property would pay bank debt.

Representatives for Southraw and NAB were unavailable for comment. Romanis Cant’s Simon Nelson is administrator for the Naval & Military Club.

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