Hudson Pacific Group Reaps $11.45 Million From Essendon Bulky Goods Centre

A BULKY goods centre with redevelopment potential in Bomber-land has sold for $11.45 million.

Hudson Pacific Group, a wholly owned subsidiary of Hudson Investment Group, has offloaded the 15,309 square metre 299 Pascoe Vale Road site, which includes four bulky goods showrooms returning almost $940,000 per annum in rent.

The site abuts rail tracks between the Glenbervie and Strathmore train stations, on the Broadmeadows line.

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Double Storey Complex in Toorak Road, South Yarra, Sells For $6.7 Million

307 - 315 Toorak Road, South YarraA DISTINCTIVE Tudor style complex in Toorak Road, South Yarra, with five ground floor shops and an upstairs office, has sold for $6.7 million.

Based on the assets annual rent of $296,021, the 638 square metre building sold on a low yield of 4.4 per cent.

Knight Frank’s Marcus Quinn and Paul Henley sold the asset at 307 – 315 Toorak Road.

Mr Quinn said the property offers the new owner plenty of value-adding potential, covering just 50 per cent of the 1000 square metre land area.

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Developer Morry Scwartz Continues to Offload Melbourne Assets

401 St Kilda RoadPRIVATE developer Morry Schwartz is continuing to line his pockets, reaping $1.63 million from the sale of the fourth, of seven shops, at the ground level of his boutique 401 St Kilda Road complex.

All four sold shops have now sold to owner occupiers, including one to celebrity chef Shannon Bennett, which opened Cafe Vue at the premises last year.

Colliers International executive Bryson Cameron said the newest 401 retail owner plans to establish a boutique bottle shop in the St Kilda Road premises, which includes 148 square metres at ground level, and another 68 square metres in the basement.

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FoodWorks to Open Gourmet Outlet at Base of ELM Complex, South Melbourne

INDEPENDENT supermarket group FoodWorks has purchased retail space at the ground floor of a $160 million apartment tower, being developed on the former HSV-7studio site in South Melbourne.

FoodWorks has paid $1.75 million for the 420 square metre retail space at the bottom of the Elm complex, which it plans to open as a gourmet outlet.

Construction of the 22-level Elm tower started last March, and is due for completion in December 2010. FoodWorks expects to open its doors by September.

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Former Dance Mecca Bullring, Now a Supermarket, Sells For $15 Million

THE office, retail and car park complex built on the site of Johnston Street’s former Bullring, in Fitzroy, is understood to have sold for about $15 million. The popular club closed in 2004, before being onsold twice, and developed by Icon Constructions into a supermarket and office complex, with 136 car park bays. Coles supermarket

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