Nurses Board of Victoria to Reap More than $12.5 Million From Two Adjoining Melbourne CBD Offices

RESIDENTIAL developers are circling two adjoining office buildings at the “Docklands” end of the CBD – being offloaded by the Nurses Board of Victoria.

The buildings, at 595 and 597 Little Collins Street, are expected to reap a total of about $12.5 million at auction next month.

The Board paid $4.1 million in March 2000 for 595, and $4.9 million in June 2008, for 597.

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Australian Retailers Association to Sell Melbourne CBD Headquarters

THE AUSTRALIAN Retailers Association – which commonly appears in the mainstream media encouraging people to spend – is indeed now cashing itself up, by listing for sale its long-time headquarters at the top of the CBD.

The ARA can expect to make about $5 million for the three-level, B-grade building – which because of a ground floor retail lease – is expected to attract investors and owner occupiers, who may wish to rent or occupy approximately 1040 square metres on the upper two levels.

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Brady Group to Offload Site Near Melbourne’s Bennetts Lane Jazz Club

HIGH rise apartment builder Brady Group has decided to offload a residential development site in the Melbourne CBD’s trendy Bennetts Lane Jazz Club precinct.Melbour

Brady Group paid $1.65 million for the 113 square metre development site in 2007, using a building on the property as an office, while it developed a much larger 35-level tower nearby.

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CBD Student Accommodation Development Site Fetches $18 Million

PROMINENT property investor Michael Buxton has sold one of the city’s biggest student accommodation development sites for $18 million.
 
The 410 Elizabeth Street office building, which Mr Buxton bought off the Royal Melbourne Institute of Technology five years ago for $8.25 million before obtaining a redevelopment permit, is expected to make way for a 50-level, 240-unit tower.
 
According to council reports, the new tower is expected to be delivered over the next three to five years.

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