Victoria Commercial Property News

Private investment firm Pro-invest Group has snapped up a second hotel site in Melbourne’s central business district and will develop a Holiday Inn Express on the $30 million property. This article originally appeared on theaustralian.com.au/property.

Office vacancy rates across Melbourne’s CBD are set to fall and rents will rise as a spike in the Victorian economy drives business confidence.

Competition between retailers and office users for space on Melbourne’s Flinders Lane has pushed rents to an all-time high.

A Sydney-based financial advisory firm for wealthy Asian investors, iProsperity Group, has bought the Novotel Melbourne Glen Waverley, as the value of suburban hotels jumps. This article originally appeared on theaustralian.com.au/property.

Chinese buyers are still coming to the Victorian capital as the mystery buyer of former Toll Holdings chief Paul Little’s $60 million Docklands twin towers development is revealed. This article originally appeared on theaustralian.com.au/property.

It consistently tops the list of Victoria’s most searched-for commercial property hotspots outside of the Melbourne CBD. And agents say Ballarat is in demand for a few key reasons.

A Point Cook pub and gaming venue leased to Geelong Football Club has been tipped onto the market, with expectations it will fetch more than $18 million.

Health fund Australian Unity has bolstered its property holdings with the purchase of a Springvale warehouse and office complex for almost $13 million.

Indonesia’s billionaire Halim family is taking on another billionaire, James Packer, in the race to develop one of the nation’s first ultra luxury six-star hotels. This article originally appeared on theaustralian.com.au/property.