My Melbourne Real Estate

BECTON Property Group has finally offloaded the prominent Beaumaris Pavilion hotel and adjoining car park, in Melbourne’s south. The East Melbourne-based developer is speculated to have made about $9 million from the sale of the waterfront site, which it bought for $11 million toward the peak of the commercial property market three years ago. Becton had planned to develop a 65-unit aged care facility on the site, as part of a push into that sector. [...]