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 PERTH-based developer Peet & Co has apparently decided against developing a 28 hectare housing estate in Melbourne’s outer south-east, and is now selling the site. Sources expect the block could fetch close to $30 million, given it is for sale with a 291-lot subdivision, and effectively ready to build upon. At 55 Abrehart Road, about 55 kilometres south-east of town, the estate (pictured, right) is near commercial hubs in Cranboune and Dandenong and is not far from the Pakenham Golf Course. [...]
BAYSIDE developer Gillon Group has quietly acquired a supersite at one of the south-eastern suburb’s busiest corners. Gillon has negotiated with residential home owners, commercial property owners, VicRoads and the council to amalgamate some seven Brighton East lots into a 7500 square metre development site. At the north-west corner of Nepean Highway and South Road, the site incorporates Barr Street, and former public land. It plans to rebuild the site – opposite the Kingston City Hall and Moorabbin train station – into a $100 million-plus mixed-use village with around 200 apartments in what could be a seven level tower. Gillon has not disclosed the price it paid to buy and amalgamate the sites. Local agent sources however value the land at about $2000 per square metre, meaning Gillon’s block could fetch about $15 million if onsold. [...]
ANOTHER prominent inner-city site, formerly occupied by 63-year old car dealership Flinkier Motors, has hit the market. This time at 390 – 396 Dynon Road in West Melbourne, a 1517 square metre site with residential or commercial redevelopment potential is expected to fetch about $1.4 million. The site was until recently occupied by National Hire and is still configured as an office warehouse. It’s surrounded by a mix of low rise industrial warehouses and the Maribyrnong River, which is also the Footscray suburb border. [...]
ANOTHER prominent inner-city site, formerly occupied by 63-year old car dealership Flinkier Motors, has hit the market. This time at 390 – 396 Dynon Road in West Melbourne, a 1517 square metre site with residential or commercial redevelopment potential is expected to fetch about $1.4 million. The site was until recently occupied by National Hire and is still configured as an office warehouse. It’s surrounded by a mix of low rise industrial warehouses and the Maribyrnong River, which is also the Footscray suburb border. [...]
CHAPEL Street’s historic Conways Building sold at auction on Thursday for $12.8 million. On a 1000 square metre site, the 2372 square metre Prahran building is configured as four ground floor retail shops, and ten upper floor commercial studios. On a fully let basis, the property could rent for $775,000 per annum, meaning the asset sold on a 6 per cent market yield. [...]
MACQUARIE Office Trust is about to test drive the performance of the commercial property markets, listing for sale an office investment overlooking the challenging Schumacher and Piquet bends of the F1 Albert Park race track. It was just three years ago, but toward the peak of the commercial property market, that MOT paid $26.26 million for the 11-level, 8400 square metre B-grade office previously known as the Zurich building. Now known as SMEC House, 71 Queens Road is expected to sell this time around for about $23 million, sources say reflecting a yield of about 9.5 per cent based on the asset’s annual income of just over $2.2 million. [...]
Leasing commercial property is a very important decision so the more research you can do, the better. Not only do you have to find a property that is in good condition and has great parking, but you also have to worry about finding the best location. Location is everything. The location of a property will make [...]
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The next piece lists some austere, informative tips that will help you have a better experience with Melbourne Commercial factual Estate.
For selling by concealed shrivel A chattels in Elizabeth-boulevard, very contiguous to Flinders-boulevard. This chattels is admirably [...]
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