Mirvac Sells Assets in Doncaster, Maitland, For $27.4 Million

MIRVAC Real Estate Investment Trust has sold two investments for a combined total of $27.4 million.

In Melbourne, the group offloaded the Doncaster Corporate Centre at 591 – 609 Doncaster Road for $17.3 million. The sale includes a purpose built Silverstone Jaguar showroom and three office buildings. CB Richard Ellis was marketing agent for this property.

Mirvac also sold the Pender Place Shopping Centre in the NSW Hunter Valley town of Maitland for $10.1 million – about the same price it was purchased for in 2007.

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Albert Gasworks Site to be Developed at Last

ALBERT Park’s former Gasworks site will be developed at last.
 
Sydney-based developer Mirvac has announced plans for Laureate Albert Park, a $90 million townhouse development that will span the entire 8,144 square metre block bound by Pickles, Graham, Danks and Foote streets.
 
Mirvac paid $18.35 million for the Albert Park development site in June 2007, after a failed attempt by the previous owner Primelife to develop a luxury retirement village.

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Mirvac Abandons Plans to Build $120 Million Office in Hawthorn, Puts Site on the Market

MIRVAC has abandoned plans to build a $120 million office building in Burwood Road, Hawthorn, in Melbourne’s leafy eastern suburbs.
 
The Sydney-based developer has decided to sell the 5,000 square metre development site, months after obtaining VCAT approval to build a 5-level, 18,800 square metre office, with 557 car parks.
 
Mirvac can expect to make about $12 million for the 291 – 311 Burwood Road site. 

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