Victorian Government Awards Clement Lee Control of North Wharf Development Site, Melbourne

PRIVATE developer Clement Lee has paid an as-yet-undisclosed sum for a prominent riverside piece of Melbourne’s central business district.

Months after paying the state government $40 million for the former convention centre, Mr Lee has acquired control of a 12,386 square metre block known as North Wharf.

The block is opposite the South Wharf project, near the Seafarers Mission building and several other office investments Mr Lee owns.

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Deka Immobilien Investment to Pay $118 Million For South Wharf Office, Melbourne

GERMAN pension fund Deka Immobilien Investment is reportedly paying $118 million for the South Wharf Commercial tower in Docklands.

The sale, reflecting a yield of about 7.75 per cent, ends a saga to sell the office that has lingered since just before the economic downturn, in late 2007.

The office is part of the $750 million South Wharf precinct which also includes retail, residential and a hotel component. The office was sold by private developer Austexx, which owns the DFO chain, which is also for sale.

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Victorian Government to Hand Over One of Melbourne’s Largest Undeveloped Central Sites

THE State Government of Victoria is formalising a plan to redevelop one of central Melbourne’s largest undeveloped sites, at the riverfront junction the CBD merges with Southbank and Docklands.

Between the Mission to Seafarers building at the corner of Wurundjeri Way and Siddeley Street, and stretching almost the length to the Charles Grimes Bridge, the massive 1.24 hectare site, accommodating old industrial sheds in a precinct called Flinders Wharf, has a 230 metre frontage to the Yarra River.

A Registration of Interest campaign was quietly launched by the government this week, seeking advice from consultants and developers to propose a new future for the site, likely to incorporate offices, shops and apartment towers, possibly with a component of affordable and social housing.

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Kraft Foods to Sublease Prominent Port Melbourne Office, Ahead of Move to South Wharf

THE outgoing Kraft Foods building – one of the inner-city’s largest standalone offices – is for rent.
 
The high-tech suburban headquarters – built for but never occupied by Boeing Industries ten years ago, measures 10,230 square metres and includes 360 car spaces.
 
The 187 Todd Road office is owned by Challenger which reportedly paid Salta $46 million for it, and a 12,000 square metre office warehouse at 300 Lorimer Street in 2002. Kraft is relocating to new offices at South Wharf.

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