Archives: Melbourne City Sales And Development Sites

The CBRE Melbourne City Sales & Development Sites team has established itself as a market leader in the implementation of strategic sales & marketing campaigns for properties within Melbourne’s CBD and Fringe markets.

With a keen eye for detail and a culture of possibility, our team has built up a strong and loyal following from the industry. We continue to think outside the traditional square associated with the commercial property industry, which has attracted buyer and vendor interest from many corners of the globe over the past decade.

We have a strong track record and expertise across various asset types within Melbourne’s CBD and City Fringe market, transacting properties ranging in price from $1,000,000 – $150,000,000.

09.05.2019

Melbourne Development Site Market: What We’re Seeing in 2019

As seen in the Property Development Review by Development Ready The Melbourne development site market is going through a period of transition. The depth of international apartment buyers, fewer tax incentives for investors and uncertainty regarding access to finance, from the apartment buyers and develop-ers alike, have all resulted in a slowing down of acquisition…

01.05.2019

Uniting Church lists Little Collins building with approval for 26-storey hotel

The Uniting Church Synod of Victoria and Tasmania has put its 130 Little Collins Street office building on the market in Melbourne’s prized east end. The building boasts a net lettable area of 3,797 square metres, comprising eight levels of office, ground floor retail, and 15 car spaces. It is on a 651 square metre…

29.04.2019

25,830sqm* Vermont South site hits the market

A high profile 25,830 square metre* site, with 132 metres* frontage to the Burwood Highway at Vermont South, is on the market with developers likely to note its potential for residential development.   Formerly the Melbourne headquarters of the Australian Road Research Board (ARRB), the 490-500 Burwood Highway property’s built improvements include 13 1970s-era office buildings…

26.04.2019

Uniting Church lists 130 Little Collins

The Uniting Church Synod of Victoria and Tasmania has put its 130 Little Collins Street office building on the market in Melbourne’s prized east end as the CBD records its tightest office vacancy in a decade. The building boasts a net lettable area of 3,797 square metres, comprising eight levels of office, ground floor retail,…

27.03.2019

Major Richmond site served up for commercial developers and land bankers

The former Peter’s Ice Cream Factory at Richmond has been listed for sale in a move tipped to generate interest from major commercial developers and land bankers. CBRE’s City Sales and Development Sites teams have been appointment to market the 120-128 Murphy Street property, which is known as Richmond Place. CBRE’s Julian White, Lewis Tong,…

25.01.2019

Docklands space changes hand for $4.1m

Two-levels of strata office/retail space at Docklands’ Waterfront City have sold for $4.1 million.

Located at 116 Newquay Promenade, Docklands, the 937sqm property features floor to ceiling windows and was sold with vacant possession after an exhaustive Expressions of Interest campaign that saw the property receive over 25 inspections and enquiry from both local and international purchasers.

Featuring floor to ceiling windows, the 937.8 square metre property represented the largest strata transaction to occur in the Docklands precinct in 2018.

CBRE’s Ashley McIntyre and Leon Ma, together with Paul Sutherland and Paul Farrelly of Sutherland Farrelly, sold the property on behalf of the private vendor to a domestic investor.

22.01.2019

Local investor gets away with Great Bookie Robbery site

The ground floor and mezzanine of Melbourne’s 131 Queen Street has sold to a local investor for $7.25 million.

The site gained notoriety in 1976 as the scene of the Great Bookie Robbery, Australia’s most infamous armed robbery and an historic point of interest for a wide range of buyers, with three investors and four owner occupiers putting offers forward at the close of the first round of Expressions of Interest.

CBRE’s Ashley McIntyre, who negotiated the sale alongside Max Ruttner, Alex Brierely and Ben McMahon, said the property sold for $7,729 per square metre, a strong result for a strata floor of this size.

18.01.2019

Hawthorn continues to attract interest from Asian investors

A Chinese developer has acquired a Hawthorn East residential landholding spanning 1,430sqm for $4.4 million.

CBRE’s Victorian Development Sites team, comprising David Minty, Julian White and Chao Zhang, managed the Expression of Interest Campaign for 488 Barkers Road with the final sale price reflecting a $3,076 per sqm rate.

Mr Minty said the large residential block drew strong interest from both local and international buyers.

12.01.2019

International investor grabs a perfect pair in Melbourne’s CBD

After almost 40 years of combined ownership, two neighbouring Melbourne CBD buildings owned by the Lewenberg Family have been sold to an international investor following a heated sales campaign which concluded on the stroke of Christmas Eve.

The buildings, situated on the north-east corner of Queen and Little Lonsdale Streets, comprised the headquarters of Lewenberg & Lewenberg Solicitors, and saw offers lodged on both the individual and combined holdings. CBRE’s Melbourne City Sales team of Josh Rutman, Mark Wizel, Lewis Tong and Alex Brierley managed the campaign.

Mr Lewenberg said: “We have been office workers, residents, shoppers and landlords in these buildings for many years, and it is wonderful to see how far the city has come since we first arrived. It was time for us to move on and we couldn’t be more pleased with the result achieved. We wish the new owners well”.

11.01.2019

VincentCare Victoria sells North Melbourne development site

A development syndicate has paid $7,750,000 for a VincentCare Victoria property in North Melbourne in the latest vote of confidence in the city’s development site market.

CBRE’s Victorian Development Site Sales team of Julian White, Chao Zhang, David Minty and Josh Rutman negotiated the sale of the 68-72 Chapman Street property on behalf of VincentCare Victoria, who were represented by transaction manager EY. VincentCare Victoria is a leading provider of housing and social support services.

The circa 2,664sqm site has a permit for 19 townhouses.

10.01.2019

Flight to commprop sees $254m CBD sales in 2018

A flight to commercial property that has resulted in record low yields, reflects a strengthening in demand for property assets driven by uncertain economic and political times, according to the latest CBRE sales research.

Data compiled on sub $25 million properties in Melbourne’s CBD in 2018 reveals 36 properties sold for $254.45 million at an average price of $7.2 million and on an historically tight average yield of just 3.6 per cent.

The figures, according to National Director Investments, Mark Wizel, reflect the ongoing concern about global economic/trade and political issues, that have seen share prices tumble, and residential housing woes which have seen investors and developers exit the market.

05.12.2018

Jeff Xu sells Victoria One for $13.6 million

Prominent Melbourne property player Jeff Xu has sold his Victoria One portfolio of five CBD strata retail properties to a Melbourne based investor for $13.615 million on a 5.5 per cent yield and at what is thought to be a record building rate of $27,230 a square metre for similar properties.

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