A prime retail and healthcare strip investment located in Port Melbourne is being offered for sale.
An opportunity to develop one of the last remaining permit-approved sites in the Melbourne CBD’s booming northern end has emerged. Singaporean Tong Eng Group has appointed CBRE’s Josh Rutman, Mark Wizel, and Lewis Tong to sell its planned high-rise development at 111-125 A’Beckett Street.
Melbourne’s waterfront Beach Hotel and neighbouring Foodworks Supermarket has been purchased by Mainland Chinese investors after a hotly contested sales campaign.
Singaporean developer Tong Eng is flipping a Melbourne CBD development site, with a high-rise permit, for between $60 million and $70 million, having paid just $38 million for it less than three years ago.
A South Melbourne supersite with over 200 metres’ of prominent street frontage has sold for more than $41 million – representing an 86% price gain since it last transacted in 2013.
A Melbourne based private investor has snapped up an existing KFC restaurant site in Tamworth for $4,475,000 reflecting a yield of 5.1%.