St Kilda Rd Commercial Property News

Property developer John Beville is hoping to almost double his money on a Melbourne office block that has hit the market with price expectations of about $160 million. 

Abacus Property Group has confirmed its purchase of a $95 million office tower in Melbourne’s busy St Kilda Rd corridor, in conjunction with Singapore-­listed Wing Tai Holdings. 

The race is heating up for an eight-level office block in Melbourne’s busy St Kilda Road corridor, with three buyers believed to be left in a fierce bidding war for the building.

Prominent Melbourne hotelier and pub baron Mazen Tabet has agreed to terms to buy Melbourne’s luxury Royce Hotel in St Kilda in a deal worth about $55 million, even though market expectations for the boutique property were initially put at more than $60 million. 

The Myer family is selling a seven-level office building in inner Melbourne after owning it for more than a decade with price expectations around $65 million. The offering at 312 St Kilda Rd comes amid …

Singapore’s Mapletree Investments has snapped up a $145 million ­office tower on Melbourne’s St Kilda Rd in a deal that shows the highest ever price for a building on the famed boulevard. This article originally appeared on theaustralian.com.au/property.

Singapore-listed developer Lian Beng Group has flipped a Melbourne site for a tidy $10 million profit after owning it for less than two years. This article originally appeared on theaustralian.com.au/property.

With the number of car parking spaces in Melbourne’s inner city continuing to dwindle, the sale of more than 500 of them below an office complex on St Kilda Rd is set to spark investor interest.

The decline of prime office options in Melbourne’s St Kilda Rd precinct is both a boon and a bust, depending on your outlook, one agency says.