South Wharf – realestatesource https://www.realestatesource.com.au Commercial and residential property news Thu, 14 Sep 2023 22:43:42 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png South Wharf – realestatesource https://www.realestatesource.com.au 32 32 Deka Immobilien Investment to Pay $118 Million For South Wharf Office, Melbourne https://www.realestatesource.com.au/deka-immobilien-investment-to-pay-118-million-for-south-wharf-office-melbourne/ Sat, 30 Oct 2010 04:17:16 +0000 http://realestatesource.com.au/wordpress/deka-immobilien-investment-to-pay-118-million-for-south-wharf-office-melbourne.html 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.
]]> Deka also owns the 15 William Street office building, according to a report in the AFR.

The sale is the latest in a string of major office sales in Melbourne to offshore interests.

RREEF Asia Pacific is in due diligence to buy 737 Bourke Street in Docklands for about $115 million. Hong Kong based CLSA Capital Partners paid $140 million for 485 La Trobe Street, while overseas developers have purchased several development sites capable of yielding major apartment towers, including one at the top of town offloaded by Solomon Lew.

]]> Victorian Government to Hand Over One of Melbourne’s Largest Undeveloped Central Sites https://www.realestatesource.com.au/victorian-government-to-hand-over-one-of-melbournes-largest-undeveloped-central-sites/ Sun, 21 Mar 2010 12:31:31 +0000 http://realestatesource.com.au/wordpress/victorian-government-to-hand-over-one-of-melbournes-largest-undeveloped-central-sites.html 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.
]]> The “gateway to the CBD” Crown-owned site is opposite Austexx’s recently opened South Wharf – a project some suggest Flinders Wharf will be modelled on, as its an effective use of an awkward site bound by major roads.

Any high rise redevelopment will rob CBD views currently enjoyed by residents at Mirvac’s Yarra’s Edge precinct of Docklands.

A government spokeswoman said it expects to formulate a strategy to develop the site later this year, and after reviewing proposals by private interests, who will also fund the redevelopment.

Some parts of the site are heritage protected, and a portion of land north of the Yarra River, near the Charles Grimes Bridge onramp, will be retained for a future infrastructure project.

Knight Frank’s Paul Burns, Langton McHarg and Marcus Quinn are managing the ROI campaign.

]]> Kraft Foods to Sublease Prominent Port Melbourne Office, Ahead of Move to South Wharf https://www.realestatesource.com.au/kraft-foods-to-sublease-prominent-port-melbourne-office-ahead-of-move-to-south-wharf/ Mon, 30 Nov 2009 02:38:39 +0000 http://realestatesource.com.au/wordpress/kraft-foods-to-sublease-prominent-port-melbourne-office-ahead-of-move-to-south-wharf.html 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.

]]> THE outgoing Kraft Foods building – one of the inner-city’s largest standalone offices – is for rent.

Goodwin Property Advisory director Christopher Goodwin, acting for Kraft, confirmed he is looking to secure a tenant to take over part or all of Kraft Foods present lease commitment at Port Melbourne, which expires in the third quarter of next year.

The three-level building, visible from the West Gate Freeway, may be reconfigured as smaller office suites if finding a large tenant to occupy the entire building, becomes difficult.

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