Melbourne Commercial Property News

Student accommodation in Australia is set for a new era, with the acquisitive Scape operation locking in its position as the dominant player with the $2 billion-plus purchase of the Urbanest portfolio that spans major capitals.

Commercial property buyers have seized almost $70 million worth of property at Burgess Rawson’s final Melbourne Portfolio Auction event of 2019.

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

Supermarket giant Woolworths has stepped up plans to expand its store network and has emerged as the buyer of 10 Caltex service station properties the oil company sold across Australia last week in a larger $136 million deal.

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.

St Kilda’s former Greyhound Hotel site will be developed as planned after several months in limbo and more than $1 million was wiped from the cost of the patch of dirt.

Melbourne’s Chadstone shopping centre, co-owned by billionaire John Gandel and the listed Vicinity Centres, is set for a makeover with its owners submitting plans for development worth more than $600 million.

Max Cooper is about to clock off as a watch and jewellery repairer for the last time, after selling the Footscray store that’s been in his family for 81 years.

The rare chance to score a standalone supermarket has seen a Victorian Coles sell on the state’s tightest supermarket yield of 2019. The Coles at Mentone in bayside Melbourne was sold to a Chinese investor …