The Grounds of Alexandria has $100 million hopes

Staff ReporterJuly 26, 20160 min read

The Grounds of Alexandria complex has been put up for sale with hopes of reaping $100 million.

The bar and restaurant complex has been put up for sale by Goldman Sachs.

It was the brainchild of developer Albert Bertini, then fell into the hands of lender Suncorp.

The US investment bank inherited it when they secured a $1.6 billion parcel of loans in 2013.

CBRE’s Scott Gray-Spencer and Brendan Shipp are marketing the Alexandria site on behalf of PPB Advisory, which is advising the lender.

It has warehouse-style office space and retail after a redevelopment undertaken between 2008 and 2010, with more further works in the past two years transforming it from a concrete car park into a site also known for its farmyard pets, sprawling open gardens and fresh food and coffee. 

The Mill occupies 1.9 hectare with a net lettable area of about 17,580sq m. There is parking for 216 cars.

The complex is 83 per cent occupied with tenants including Bendon.

Staff Reporter

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