IOOF invests in landmark office for $22.1M
A landmark office building in West Melbourne has sold for $22.1million, reflecting the ongoing demand for well-located commercial assets with strong fundamentals in city-fringe suburbs.
AXA joins march into fringe office markets with $100m deal
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 Grou
St Kilda Road boulevard office sold for $57.5m
Melbourne-based Bayley Stuart Capital has sold a premium building at 606 St Kilda Road on the leafy boulevard to a Chinese investor for $57.5 million. The investment firm managed by Alasdair and Andrew MacGillivray sold the glass-encased o
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.
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.
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 s
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 b
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.
Syndicate buyer
On behalf of a syndicate to be managed by real estate agent and adviser Alasdair MacGillivray, Sandhurst Trustees Ltd is paying a speculated $40 million for the 606 St Kilda Road office building.
St Kilda Road 10-level tower fetches $40 million
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 s
