Victoria Commercial Property News

Multi-billionaire Harry Triguboff has stopped construction of a serviced apartment tower in the heart of Melbourne and ditched plans for the development of others towers in Canberra and the western Sydney hub of Liverpool, saying it is too risky to pursue further hotel projects at this time.

The landlord to some of Australia’s most famous pubs is charging full rent to tenant Woolworths-backed ALH Group and has boosted the value of its portfolio despite the coronavirus pandemic closing the doors of famed Victorian venues including Melbourne’s Young & Jackson Hotel.

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Shopping centre owners have been slammed by the latest clampdown on retail in Victoria with restrictions hitting larger regional shopping malls particularly hard as they rely on discretionary retail and department stores.

The listed BWP Trust, which owns Bunnings warehouses around the country, says it is well positioned for the challenges created by the global COVID-19 pandemic, even as its anchor tenant readies for trade restrictions in Melbourne.

Supermarket giants Coles and Woolworths have introduced new trading hours during Melbourne’s Stage 4 coronavirus restrictions.

Melbourne’s constructions sites have not been spared under the new Stage 4 restrictions announced this week.

Stage 4 restrictions are in place across metropolitan Melbourne as the city attempts to slow the spread of COVID-19.

A second Northcote development site linked to former Melbourne footballer Clint Bartram is being sold under mortgagee instruction.