aus prop wrap 20092023
Image: Canva.
  • A Melbourne office has sold for circa $35M.
  • A luxury residence is set to command an $8M price tag.
  • A Bronte development has been approved.

From an office to luxury living, today’s wrap encompasses a Melbourne office sale, the commencement of major works at the Health Translation Hub, and two luxury residences across Sydney and Melbourne.

SOLD

Melbourne office sold for over $30M

The office at 333 Queen Street in Melbourne has been sold for circa $35 million. The sale price reflects a passing yield of 4.62%.

JLL‘s Melbourne CBD sales agents Nick Peden, Josh Rutman, Tim Carr, and Mingxuan Li exclusively handled the international expressions of interest campaign on behalf of a private family after 23 years of ownership.

333 Queen Street HERO IMAGE
Image: Supplied.

With over 200 buyer enquiries, 36 private inspections conducted, and 8 formal offers submitted, the campaign generated competitive bidding from China, Singapore, Hong Kong, Malaysia and Australia. The successful purchaser was a local land banker who was taking a long-term view of the Melbourne CBD and was drawn to the high-profile corner location of the asset and the future potential.

The property was offered for sale 85% leased to nine tenants with a short WALE.

ANNOUNCED

$134M Bronte project approved

Fortis has recently secured development approval for 122-128 Hewlett Street in Bronte from Waverley Council.

Construction on the project will commence in early 2024, offering a collection of 9 four-bedroom freestanding homes over a communal basement. Titled ‘Bronte Collection’, each home will have views over Bronte Beach and offer large living, entertaining and outdoor areas, private dual garaging with EV charging provisions, private pools, outdoor showers, and individual lifts, with select residences also offering a state-of-the-art gym and sauna.

Designed by MHN Design Union, the 2,472 square metre site occupies a premium elevated position just 4 minutes walk from Bronte Beach and its iconic ocean pool.

Bronte Collection
Image: Supplied.

Work at $600M Health Translation Hub kicks off

Major work is underway on the $600 million UNSW Health Translation Hub, one of the marquee developments within the Randwick Health & Innovation Precinct.

NSW Premier, Chris Minns, and Member for Coogee, Dr Marjorie O’Neill, MP, joined UNSW and Plenary Health consortium partners on site to mark the official start of major work.

Health Translation Hub_1
Image: Supplied.

The facility will be situated adjacent to the new Prince of Wales Hospital Acute Services Building and will include direct connections to UNSW’s Kensington campus, the Sydney Children’s Hospital Stage 1, and Minderoo Children’s Comprehensive Cancer Centre, enabling seamless integration with UNSW and the four hospitals at Randwick, putting the precinct at the forefront of international health research and education.

FOR SALE

Opulent family office and residence listed

“The Board Room Residence” is a three-bedroom, two-bathroom accommodation located at 101/29-31 Market Street in Melbourne.

It features two bedrooms with silk-faced wardrobes and marble ensuites, one with a freestanding bath. The interiors were renovated by SJB Interiors, led by head designer Ljiljana Gazevic and the impressive boardroom space is a flagship for entertaining with a marble kitchen, ethanol fireplace and moveable bar balancing the classical architecture. There is a second kitchen which hosts a study and sitting room and the apartment also comes with secure parking for 2.5 cars.

With a guide price of $8 million, Oliver Hay, Anthony Kirwan, and George Davies of Cushman & Wakefield are selling the asset on behalf of a retired hedge fund manager who spent decades overseas in various financial markets.

The Port Authority Boardroom residence is for sale with Cushman & Wakefield in conjunction with Kay & Burton and Advise Transact.



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