My Melbourne Real Estate

MELBOURNE’s next major shopping centre will be developed in Brunswick East, after a prominent 1.9 hectare factory, formerly occupied by Tontine Pillows, sold to developers. The site at 127 – 137 Nicholson Street was listed by receivers for the Letten Group of companies, and sold to the Melbourne-based Banco Group, a representative of which was unavailable for comment. Banco is believed to have paid $15 million for the huge Brunswick East site, which also has frontage to John, Gamble and Rickard streets, offering flexible and mixed-use redevelopment approval. Any sale to Banco would follow a $20 million purchase of the Footscray Plaza shopping centre in February. [...]