City fringe

They’re the trio of 40-something schoolmates from Melbourne’s northwest trying to pull off a first in Australian sports business: a privately owned $180 million stadium surrounded and funded by more than 40ha of residential and commercial property.

It was once Adelaide’s mecca for all things motorsport and now Speedway City could be all yours.

Investors are quietly buying key commercial sites in a northern beaches suburb looking forward to growth once the suburb’s centre is rezoned.

The $26 billion Australian real estate giant Goodman Group is believed to be vying for Sydney’s Moorebank Logistics Park, on offer by the listed Qube Holdings.

Property funds manager Centuria Capital is finishing the year in striking fashion, snapping up two properties from the KKR-owned biscuit maker Arnott’s for its listed industrial trust for $236 million.

Local buyers have outmuscled international developers to secure a prominent commercial site in Camberwell in an eight-figure December sale.

The interstate buyer of a historic Dunalley church building plans to turn it into a residence he and his partner will live in.

Brisbane property developers are not shying away from challenging restoration projects, transforming once run down and decrepit historic homes, ice cream factories, dairy farms and even a mortuary.

Six Victorian petrol stations have moved a step closer to shutting their bowsers after a mass sell off by Caltex — and more closures will be announced next year.