Metier3 Buys CR Kennedy Site, South Yarra, Melbourne

CASHED-up design practice Metier3 is understood to have paid $25 million for a development site near the retail epicentre of Chapel Street and Toorak Road.

The 3,537 square metre parcel is one of the last remaining major industrial sites within the South Yarra pocket known as Forrest Hill, bound by Alexandra Avenue, Chapel Street, Toorak Road and the train station (which runs parallel to Yarra Street).

Forrest Hill has seen rampant high density redevelopment in recent years. One developer’s ambitious 38-level skyscraper proposal was given the green light 16 months ago.

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REST Close to Buying 717 Bourke Street Office For $240 Million

A CONSORTIUM including Babcock & Brown, education facility Global Campus Management and design firm Metier3 are believed to be close to offloading a Melbourne office for about $240 million.

The distinctive 37,000 square metre office at 717 Bourke Street will soon be recognised as the new home of Network Nine, which leased space at the Docklands building after selling its long time home at Bendigo Street Richmond to Lend Lease.

BP Australia, AIG, Marsh Australia, Telstra and the Financial Ombudsman Service are other tenants at 717 Bourke Street.

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$300 Million Docklands Office Quietly Being Marketed For Sale

717 Bourke Street, DocklandsDOCKLANDS unluckiest office building has been quietly listed for sale.

The 717 Bourke Street office – and soon-to-be home of Channel Nine – is expected to sell for between $280 million and $300 million, reflecting a yield of about 8 per cent.

Last November, education service provider, and a reported minority owner of the building, Global Campus Management, went into voluntary administration, surrendering a 17,000 square metre lease over almost half of the building. That space was to have been occupied by French fashion school ESMOD.

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