Commercial and residential property news
Queensland-based financier LM Investment Management has offloaded 15 self contained serviced apartment suites, occupying one entire floor within the Mantra on Little Bourke hotel, at 471 Little Bourke Street.
A Chinese investor living in Perth has paid $2.8 million for the entire first level of the building, a 27-year old former office converted into hotel suites 11 years ago.
PRIVATE developer Ubertas has revealed plans for a $450 million mixed-use tower opposite the Flagstaff Gardens, in the Melbourne CBD.
The Fender Katsalidis Architect designed tower planned for 350 William Street will rise 50-levels, and include 626 apartments, 20,900 square metres of office space, 940 square metres of ground floor retail. 460 car park bays and 185 bicycle parking spaces.
Half the apartments will be “studio” serviced apartments (ie, no separate bedroom) whereas the balance will be standard “own your own” apartments which may be lived in, or rented out as an investment.
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