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 Sydney-based developer EG Funds Management has lodged plans to replace a rundown Kensington wool store (pictured, right) with a major residential village. The 110-year old historic building, next door to flour processing plant Allied Mills, whose factory is prominent to commuters taking the Bolte Bridge, is expected to be retained in any redevelopment. EG is seeking to build at least one tower, rising up to 12 levels, on its site, according to The Age which reported the development application that has been rejected by council. [...]
 SPOTLESS Group has leased an entire St Kilda Road office building, and will relocate its headquarters from the Melbourne CBD. The cleaning services and management company, currently based at 350 Queen Street, has leased about 9200 square metres at the 549 St Kilda Road building previously known as AIG House. The rent Spotless will pay has not been disclosed, but industry sources speculate it circles about $250 per square metre, per annum, before incentives (a lure usually offered in the way of a fit-out, or rental discount). This is low compared to the CBD, Southbank and Docklands. [...]
TRILOGY Funds Management is expecting about $17 million from the sale of a riverside office asset occupied as the global headquarters of travel publisher Lonely Planet. The prime located site at 90 Maribyrnong Street includes a 7293 square metre office, 86 car spaces, and will be sold with a new six year lease to Lonely Planet, which pays a current annual rent of $1.53 million. Lonely Planet relocated to the converted Footscray building in 2000, from Hawthorn. [...]
INTERESTS associated with Perth based Property Bank Australia and Security Capital Corporation have paid $18.35 million for a 5122 square metre office building in Richmond. Building 8 of 658 Church Street was offloaded by Colonial First State Global Asset Management. The asset is fully leased to DDB and Optus (trading as Uecomm). Based on the annual net rent of $1.637 million, the asset sold on a yield of 8.9 per cent. [...]
IT was described as the “best bargain development site” to sell during the economic downturn, and now builder EG Funds Management is ready to cash in. The former Hedley Sutton Retirement Village, on the corner of Canterbury Road and Gascoyne Street, is being replaced with a medium density housing project, called The Canterbury. EG paid Baptcare just $12.53 million for the 8161 square metre site in late 2008, at a particularly depressed time in the residential development site market. [...]
Who needs a real estate agent? Everyone who wants to selloff/rent/lease his/her property and dreams of maximizing returns from a similar investment.
If that’s the kind of answer you weren’t really expecting, it’s time to think again. A real estate agent is often looked upon as an expensive option to the apparently simple task of buying [...]
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