Fitzroy sets a new standard with hotel chain
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How many Standard Hotels can Fitzroy handle? Developer DealCorp has struck a deal with international accommodation chain, The Standard Hotel, for a site in the heart of Fitzroy.
The 1132 sq m site is at 62 Rose Street, on the corner of Fitzroy Street, where, walking south past Johnston Street, you can also find one of the suburb’s best pubs, the Standard Hotel, which has been in situ since 1865.
DealCorp has struck a deal with cult international accommodation chain The Standard Hotel.
Village goes to market
Picture: Yanni
THE pending sale of the Mornington Village Shopping Centre will “test the market as the first core Victorian neighbourhood shopping centre offering of 2021”.
Agent Stonebridge Property Group says the centre has “long been an investor favourite based on recession proof and non-discretionary tenancy profiles, especially in booming areas like Mornington”.
The sale price is expected to be around $40 million. It last sold in 2018 for $39 million.
The Main Street centre at the corner of Cromwell Street is anchored by Woolworths and Aldi supermarkets as well as The Reject Shop, Pharmasave, medical centre and 14 retailers over 7963 square metres. There are 455 outdoor car spaces and 55 undercover spaces.
Kestelman has big $20m budget for Southbank site
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Larry Kestelman is understood to have splashed out nearly $20 million on the Budget development site on City Road, Southbank.
Records show one of Mr Kestelman’s companies, LKPG SPV3, put a caveat on the low-rise warehouse in November.
Larry Kestelman: A capital success at Capitol Grand.
Credit:Eamon Gallagher
Mr Kestelman is cashed up after selling down his South Yarra holdings to Greystar last year for a new build-to-rent project in the Forrest Hills precinct.
Bank of China cashes out from legal precinct
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The first CBD deal for 2021 is out of the box with the Bank of China-owned building at 270 Queen Street understood to have sold for around $15 million.
Records show Regis Capital Partners, which also has a Singapore branch, slapped a caveat on the title on January 21.
The Bank of China has sold its building on Queen Street.
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The owners of the locally based arm of Regis are developer Tony Brady and property bankers James Pellicano and Kelvin Cheong.
CBRE agents Nathan Mufale, Alex Brierley, David Minty and Jing Jun Hen had the listing back in August but declined to comment.