St Kilda Rd Commercial Property News

Melbourne’s famous The Blackman hotel will not reopen after COVID-19.

Embattled travel agency group Flight Centre has secured a much-needed $62.15 million windfall from the sale of its Melbourne headquarters.

The residential property market might be bouncing back strongly but office landlords are still buying up sites where luxury apartments had been planned, while the pre-sale market remains flat.

Office investors are swooping on sites around the country that were once destined to become apartment developments, with the latest play on St Kilda Rd likely to end hopes of a luxury block designed by the late star architect Zaha Hadid being built.

Hong Kong investors are the latest property players to emerge as major investors on Melbourne’s leafy St Kilda Road precinct with a pair of buildings worth about $170 million being targeted by a single buyer.

Melbourne’s hot St Kilda Road precinct is readying for its latest benchmark sale, with a Hong Kong group in the final stages of buying a tower from funds manager Vanguard Property Investments for about $95 million.

Sydney-based Marprop has expanded ties with German-based funds manager GLL Real Estate Partners, with the pair sealing a deal to buy an office block on Melbourne’s St Kilda Rd from fund manager Bayley Stuart for close to $65 million.

A St Kilda Rd office block has smashed the leafy boulevard’s record by almost $20 million after an eye-watering $163 million sale.

Property tycoon John Beville has made a return to form, striking a lucrative deal to sell an office block on Melbourne’s leafy St Kilda Rd for $163 million to Chinese mainland investor Da Xie.