Commercial and residential property news
HASSAD – the agricultural arm of the Qatari government – is in negotiations to buy five properties in western Victoria, in a deal reportedly worth $45 million.
The portfolio will bring the value of Australian assets purchased by the overseas group in the past twelve months to over $100 million.
Hassad is said to be considering purchasing another major property in NSW from one of the Victorian vendors.
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PLANS for a new $12 million clubhouse and hotel resort at the prestigious Portsea Golf Club have teed off, officially, after the Club successfully sold enough of its land to fund the new development.
Four of the five double blocks put to the market in February have now sold, with another two blocks now released for sale.
The Club is expected to bunker another $4 million from the remaining three blocks.
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YARRAWONGA’s prominent Pigdon Motors site may be redeveloped into a relatively major shopping centre with a speculated end value of about $20 million.
The Moira Shire Council is reviewing an application to develop a 3,500 square metre supermarket, which would be leased to Woolworths, and 11 specialty shops, totaling 1170 square metres, on the site at the southern edge of the town centre.
Planning Minister Justin Madden recently approved an amendment to a planning scheme, allowing land to be rezoned to commercial use, in keeping with the Yarrawonga Strategy – 2005.
Read moreMore than 90 per cent of the first stage of developer FKP’s Shearwater development on Phillip Island has been tagged for sale, less than a week after its official launch.
Read moreA private investor has paid a low “Melbourne-like yield” for a 3,000 square metre Coles supermarket in the regional town of Bendigo.
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