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February 2012
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Actors Reg Gorman and Judith Roberts Sell St Kilda East Property

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ACTORS Reg Gorman and Judith Roberts have sold their two-bedroom apartment in St Kilda East’s quaint Ardoch development for $740,000. The renovated, ground-floor unit at 8 Ardoch Avenue is in one of Ardoch’s historic buildings, built in the 1920s. The oldest building in the unique estate dates to the 19th century, while newer buildings were developed on the site in the mid 1990s. Ardoch centres around a grassy expanse, and its residents share a sauna, gymnasium and indoor pool. The property was once used as an orphanage, and a school. [...]

Ringwood Regent Motor Inn Site Sells to Apartment Developers

IN the 1990s, it was considered one of the outer eastern suburb’s ritziest hotels. But the former Sundowner Ringwood complex, since rebranded the Ringwood Motor Inn, has now sold to a residential developer with vacant possession. The 31-year old, 39-room brick hotel is expected to be replaced with a higher density apartment based project which sources estimate will have an end value of more than $40 million and may include high rise buildings. [...]

Malaysian Investors Buy Prominent Bourke Street Mall Building For $17 Million

ONE of the Melbourne CBD’s most prominent retail buildings has sold to Malaysia-based investors for $17 million. The distinctive Bradmans Handbags building at the corner of Bourke and Swanston streets was sold by a family trust associated with former Melbourne Lord Mayor Sir Edward Leo Curtis, which has owned it since 1960. Based on the building’s annual rent of $813,157, the asset sold on a yield of 4.78 per cent. [...]

State Government to Sell Ovens Benevolent Asylum

THE compound known for years as the Ovens Benevolent Asylum, in Beechworth, has hit the market as a development site. The State Government can expect to make up to about $2 million from the sale of the 6.5 hectare property which includes five heritage protected historic buildings, and a subdivided vacant tract of land. Construction of the first asylum building started in 1862 with buildings added in 1867, according to the Heritage Council of Victoria. [...]