Property portal Domain will become the anchor tenant in a $50 million office tower under development in Melbourne’s inner east that fund manager Bayley Stuart Capital has bought.
Global investment giant AXA has joined the wave of money pouring into Melbourne’s fringe office markets after striking a deal to acquire MYOB’s new $100 million Melbourne premises in Cremorne being developed by Joe Russo’s Caydon Group.
Office withdrawals for conversion to apartments are driving up rents in Melbourne’s St Kilda Road and Southbank, forcing new commercial development into nearby suburbs such as Richmond and Cremorne, analysis from JLL shows.
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 […]
Wealthy Hong Kong expat Malcolm Dumenil has sold 606 St Kilda Road, a 10-level office tower on the city fringe, to Melbourne investment firm Bayley Stuart Capital for $40 million. The deal was struck on an initial yield of 7 percent and a strong building rate of $4,625 per sqm. The glass-encased office tower last […]
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 […]
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 […]
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 […]
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 […]
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 […]