Forza finds Carlton buyer

Boutique fund manager Forza Capital has sold a Carlton office building for $37.05 million, close to double what it paid for it four years earlier. The 6,178 square metre office building was sold on a yield of 6.04 per cent and a rate per square metre of $6,000. It was handled by Paul Burns of […]
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Forza puts Pelham on market

Melbourne-based fund manager Forza Capital has put its Carlton office building on the market. The four-storey 6178 square metre office building is held in its unlisted Forza Pelham Street Fund and yields around 9.5 per cent a year. It was bought in 2012. The Carlton property is on the site of the former St Nicholas […]
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Boulevard life sends office vacancy lower

Residential conversion of office space on the St Kilda Road boulevard has led to the strip’s lowest office vacancy rate in eight years. Its office vacancy rate has dropped to 7.3 per cent, according to research by Savills, a level 38 per cent tighter than the 25-year average of 11.8 per cent. Savills associate director […]
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Syndicate buyer

On behalf of a syndicate to be managed by real estate agent and adviser Alasdair MacGillivray, Sandhurst Trustees Ltd – the 129-year-old wealth manager now part of Bendigo Bank – is paying a speculated $40 million for the 606 St Kilda Road office building. The former Hoescht House was refitted as a high end and […]
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Petrol king swoops on Singaporeans’ distress

Singapore’s International Healthway Corporation has found buyers for two prime assets on Melbourne’s St Kilda Road, worth $118 million in total, after it lost the confidence of its bankers, who appointed receivers to sell the assets. Petrol king Nick Andrianakos has emerged as the buyer of one of the properties for $70 million, while boutique […]
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Armadale CBD building makes quickfire profit

A modern mixed-use building in the heart of Armadale has sold off-market for $10.6 million, delivering the owner with a handy gross profit of $2.6 million in just 12 months. The three-level property, at 1155 High Street on the corner of Mercer Road, was sold prior to a planned official marketing campaign kicked into gear. […]
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Demand for suburban office booms

An enthusiastic investor has paid $10.6 million for an Armadale office that exchanged just a year ago for $7.9 million. In one of two large off-market deals inked for suburban office assets this week, 1155 High Street sold before a market campaign was to have begun, and on a low yield of about 5 per […]
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Syndicate snaps up Bayside landmark

Private syndicator Henkell Brothers Investment Managers has moved on the Bayside Junction office building in Melbourne’s southeastern suburbs with a $41.5 million purchase. The firm bought the five-level office, at 973 Nepean Highway in Bentleigh, on behalf of a partnership of European investors. JAK Investment Group sold the property on a yield of about 8.7 […]
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