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Mark Baljak's picture
#152

Hotel plans for airport precinct

>> Essendon Airport looks set to expand with a 150-bed hotel, substantial new office and retail space and up to 10 new car dealerships over the next five years, the airport's new master plan envisages.

>> The airport's chief executive, Chris Cowan, said there had been inquiries about locating a hospital on the site but there were no firm plans. Discussions were under way with three national hotel operators for a prominent eight-level, four-star hotel and conference centre near the airport's main Matthews Avenue entrance with a decision expected by year's end, he said.

Read more: http://www.theage.com.au/business/hotel-plans-for-airport-precinct-20130...

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Qantas743's picture
#153

But I'll bet they'll refuse to alter flight paths to allow development in the CBD.

Disgraceful!

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Melbman's picture
#154

Interesting developments there at Essendon Fields.

10 more car dealerships? Aren't there enough there already?

The Hotel seems promising.

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Mark Baljak's picture
#155

Retail giant H&M to open at GPO

Swedish retail giant H&M is setting up shop in Melbourne's iconic GPO building.
The owners of the 150-year-old building, property fund managers ISPT, announced on Wednesday the retailer had chosen the GPO for its much-anticipated first Australian store.
The new store, due to open in mid-2014, will become H&M's Australian flagship outlet and one of its biggest in the world, occupying three floors and almost 5000 square metres of the heritage listed GPO building.

Read more: http://www.theage.com.au/victoria/retail-giant-hm-to-open-at-gpo-2013090...

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Melbman's picture
#156

^^ At least it will now be filled. The GPO had a decent offering on the main level but upstairs was their issue.

Great to see such a big store in a grand old building.

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Chris Peska's picture
#157

Most definitely Melbman, it would be safe to say that H&M are locating themselves in one of the most premium retail buildings in Australia and maybe even the World by taking up the GPO building. Very elegant and very beautiful. How long was there lease for again? 10 years?

Observe. Design. Build. Live.

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Michael Berquez's picture
#158

Just perfect...and makes me think of their flagship store in London on Oxford Circus.

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Mark Baljak's picture
#159

Melbourne’s CBD: it’s three in a row for Hiap Hoe
NICK LENAGHAN

>>Listed Singaporean developer Hiap Hoe has acquired its third Melbourne property in only a few weeks, in a $105 million deal for the retail and office asset at 206 Bourke Street.

Hiap Hoe’s third transaction is its largest yet, after acquiring a ­Docklands development site for $28.8 million at the start of August then a mixed-use property at 380 Lonsdale Street for $43.8 million this week.

In the latest deal, the Bourke Street property is already delivering a solid return, from 9582 square metres of retail space and 2340 square metres of office space.

>> Hiap Hoe executive chairman and chief executive officer Teo Ho Beng said the acquisition had “everything we were looking for in a long-term investment project in Melbourne”.

The deal would deliver an attractive initial yield in excess of 7 per cent, with a high leasing rate at 98 per cent and offering “great scope for future development”, he said. The centre tenancies provide a weighted annual lease expiry of 4.77 years by area.

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melbourne's picture
#160

A few pics of the Emporium Development:

 

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

 

Another pic from yesterday:

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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Mark Baljak's picture
#161

and a bit extra

CFS the winner as Muji moves in to Emporium
BY:SARAH DANCKERT September 05, 2013

JAPANESE homewares and consumer products retailer Muji is preparing to open its first Australian store at Melbourne's CFS Retail Emporium development.

The retailer will take a large-format store on level two of the Lonsdale Street building in a major coup for the development.

Muji will join another top Japanese retailer, Uniqlo, and British high street fashion darling Top Shop at the $1 billion project which has been plagued by union troubles and a lack of retailer demand.

The centre is expected to be opened at the end of March.

http://www.theaustralian.com.au/business/property/cfs-the-winner-as-muji...

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Mark Baljak's picture
#162

http://www.theage.com.au/business/property/singapore-firms-buy-up-melbou...

Singapore firms buy up Melbourne sites
September 9, 2013

Foreign investors are buying about 25 per cent of commercial properties offered in Melbourne's CBD, a record level, Savills Australia maintains.
Two Singaporean listed companies have splashed out a combined $226.1 million to buy four Melbourne properties over the past month and a Hong Kong-based private investor has brought an office block for $31.5 million.
Victoria University announced Monday it had sold its 12-level office building at 300 Flinders Street to the Singapore exchange listed Hotel Grand Central group for $48.5 million.
The Flinders Street sale follows an unprecedented buying spree by another Singapore development company, Hiap Hoe, who snapped up three prime Melbourne sites over two months for a total of $177.6 million.

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Mark Baljak's picture
#163

AFR except

Dolce & Gabbana opens first Australian store

MATTHEW DRUMMOND
For Dolce & Gabbana it was not a matter of if or when to open in Australia, but where.

After five years of scouting around the process of creative destruction has finally delivered up a suitable spot. The first Dolce & Gabbana Australia boutique opens on Tuesday on the ground floor of the Mayfair Building in Melbourne’s Collins Street. The historic building has just received a $280 million facelift and now houses the headquarters of BHP Billiton.

Clad in volcanic stone shipped over from Sicily and bejewelled with two hefty chandeliers made of Murano glass, Dolce & Gabbana’s new shop is no temporary pop-up. Its arrival is a reminder that while Australians debate whether the mining boom is over, offshore fashion brands don’t really care.

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Mark Baljak's picture
#164

DKLS offloads Equity Chambers to Chinese developer ZYTT

GREG BROWN From: The Australian September 10, 2013

LISTED Malaysian company DKLS has sold the Equity Chambers building in Melbourne to a Chinese developer for $15 million.

The sale is part of an Asian buy-up of Melbourne commercial buildings, with agent Savills Australia handling four sales to Asian investors over the last week worth more than $110m.

The purchaser of the 472 Bourke Street property, ZYTT, intends to redevelop the heritage-listed building into a hotel.

"It would include a tower extension (more levels) of the building while retaining the heritage aspects of it," said Savills head of city sales and investments Clinton Baxter.

Mr Baxter said the buyer would spend at least six to nine months on the planning and approvals process with the project expected to take two to three years.

http://www.theaustralian.com.au/business/property/dkls-offloads-equity-c...

previous scheme - Hayball

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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melbourne's picture
#165

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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Mark Baljak's picture
#166

Monash Health Translation Precinct Transitional Research Facility about to start construction.

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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Paul_D's picture
#167

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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Michael Berquez's picture
#168

News alert.....I just saw the dreaded photo ruining 120 Spencer Street in the background of Channel 9 weather and part of it is painted white...something is going on. Perhaps there is a god after all. Hope this is in the right thread.

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melbourne's picture
#169

yup!

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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Michael Berquez's picture
#170

Thanks so much Ryan.....

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Mark Baljak's picture
#171

wondering on the design??

Kane Constructions has been selected as one of six contractors shortlisted to bid for a $165 million redevelopment of the Victorian Eye & Ear Hospital.

Premier Denis Napthine and Minister for Health David Davis joined the CEO of the Royal Victorian Eye and Ear Hospital Ann Clark, to make the announcement at the hospital in East Melbourne today.

The redevelopment will see existing buildings, located between the two 10-storey towers, demolished to make way for the construction of a connecting building with five fully integrated levels.

Works are due to commence prior to Christmas.

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Mark Baljak's picture
#172

ODC development

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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melbourne's picture
#173

Multiplex/Audi

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

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Mark Baljak's picture
#174

Good times for city office tenants

September 25, 2013

>> Mallesons, Aecom and Super Partners are thought to be among the next wave of companies to take advantage of the most tenant-friendly market Melbourne's CBD has seen in years.

>> Such attractive rates are enticing tenants from the suburbs and prompting others to look at previously unattainable buildings. Mulgrave-based electricity provider Jemena is on the hunt for 8500 square metres.

>> Law firm King & Wood Mallesons, which occupies the top floors in Bourke Place, would take 15,000 square metres if it decides to move.
Aecom is expected to consolidate offices now split between 80 Collins Street and 8 Exhibition Street into a single 6000-square metre space.
And Super Partners, whose lease at 2 Lonsdale Street is up for renewal in 2015, is another that may soon be scouring the market. Its 25,000-30,000-square metre footprint will have landlords salivating.
Another large leasing deal, KPMG's bid for up to 30,000 square metres, is close to being finalised.

>> Hall & Wilcox lawyers were close to deciding either to stay at Bourke Place or take 4500 to 5000 square metres at 180 Lonsdale Street.
Rivals Maddocks has shortlisted seven possibilities.
Banks, too, are on the move. The ANZ is looking for 20,000 square metres when its Kings Way call-centre lease expires in 2016 and the Bank of Melbourne is searching for a Collins Street address.

Read more: http://www.theage.com.au/business/good-times-for-city-office-tenants-201...

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Mark Baljak's picture
#175

monash gcf underway

COMMERCIAL | News & Discussion, Concepts & Unbuilt Projects

Money men bank on options for new CBD offices
Sarah Danckert
From: The Australian
September 26, 2013

>>MELBOURNE'S lacklustre CBD leasing market is about to witness some serious churn with three major deals in the works for the Bank of Melbourne, ANZ's Esanda Finance and National Australia Bank.

But news of the three 8000sq m to 9000sq m deals come as developers face the prospect that major tenants KPMG, SuperPartners and PricewaterhouseCoopers might stay put in their current abodes.

The Westpac-owned Bank of Melbourne's 9000sq m requirement has a fast-growing shortlist including Mirvac's Collins Street development in the Docklands, 567 Collins Street, Grocon's office tower proposal at 555 Collins Street, and Dexus's 350 Collins Street.

>>Separately, ANZ unit Esanda Finance will take 8000sq m at AMP's 55 Collins Street, with the bottom floors recently taken off the market in anticipation of the lease being signed by the personal finance arm of the Melbourne-based bank. Esanda leaves 85 Spring Street, which is currently for sale and being marketed to predominantly residential developers, sources say.

>>But the clock is ticking for the major lease requirements, with KPMG widely expected to exercise the three-year option at 161 Collins Street when it expires in 2016. KPMG had been in discussions with a number of developers including Walker Corporation, but no deal has eventuated.

PwC, with 25,000sq m, is said to be keen on Collins Square, but it is understood that Walker is baulking at covering the remainder of PwC's lease if the building is completed before the accounting firm's lease lapses in 2017.

>>Leasing experts are also losing hope that SuperPartners will pack up and move to a new development, with the provider of back office support to industry superannuation funds likely to renew and expand its lease at Lonsdale Street, which is owned by ISPT, in a pooled fund that counts UniSuper and Australia Super as investors

See more at: http://www.theaustralian.com.au/business/property/money-men-bank-on-opti...

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Mark Baljak's picture
#176

AFR
Salta Properties to call Collins St home

LARRY SCHLESINGER
Salta Properties has joined the string of companies relocating from the fringe to the CBD with the announcement that it will shift its headquarters from Port Melbourne to the Paris end of Collins Street.

The privately-owned Melbourne-based property developer will take level 26 at 35 Collins Street in a 10 year deal worth $10 million.

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