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.
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 Fitzroys and Alasdair MacGillivray of Bayley Stuart Real Estate.
Office withdrawals reshaping Melbourne
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.
Receivers sell central Geelong medical centre for $20 million
Receivers for the bank that financed Singapore’s International Healthway Corporation’s $28 million purchase of the Geelong Private Medical Centre three years ago have sold the regional property for a speculated $20 million.
Untenanted building sold off plan for $50m
Melbourne investment firm Bayley Stuart has paid $50 million to buy an office building off the plan in Cremorne, on the city fringe, that is yet to secure a tenant.
