Jailed fraudster Craig Gore, and his late father, Mike Gore, each had audacious plans at various times to turn a 394ha Gold Coast hinterland cattle property into golf course-focused resort and residential project. Both schemes collapsed, turning into financial disasters, and the site at Canungra, known as “Saddleback,” has just changed hands once again. The current owner, a pastoral outfit, sold the site at auction last week for $8m to a local family intending to keep the cattle grazing. Elevated 550m above sea level, the property is considered one of the largest holdings close to coastal beaches and it affords spectacular 360-degree views. Even the Glasshouse Mountains are visible.
August 6, 2020
A “shovel-ready” development site at 596 St Kilda Road, Melbourne, has hit the market, three years after last changing hands. Developer Everland Global, led by co-founders Tim Chang and Michael Xie, paid a record $34 million for the site in 2017 when it was purchased from Singapore-listed construction and property company Lian Beng Group. Lian Beng Group had secured the inner-Melbourne St Kilda Road site only two years prior for $25 million, in 2015. The freehold site, with frontage to Queens Lane and St Kilda Road, has development approval for a luxury 19-storey development. The Bates Smart-designed plans comprise 101 residences, 162 car parks, and span 11,670sq m of net area. Colliers International’s Daniel Wolman, Leon Ma, Oliver Hay, Trent Hobart and Jozef Dickinson are managing the expressions-of-interest campaign for the asset, which Hobart says could cater to the owner-occupier market. “[This] includes the affluent city-dwelling professionals, as well as the downsizing owner occupier market,” he said. Amid the Covid-19 environment, Wolman said the popular St Kilda Road precinct had retained buyer attraction in the office and residential accommodation sectors. Earlier this month, a local syndicate picked up a CBD fringe office building at 71-73 Palmerston Crescent South Melbourne for $14 million. In May, Flight Centre offloaded its 436 St Kilda Road headquarters for $62.15 million to the property arm of Prime Value Asset Management, Shakespeare Property Group. And nearby, Jewish Care launched its 4,293sq m South Boulevard site to market last month, on the corner of Punt Road and Raleigh Street. The site is being sold with vacant possession, and is occupied by a four-storey aged care facility and adjoining car park.
August 15, 2019
The Fernvale Manufactured Housing Estate site is for sale with ResortBrokers…
July 22, 2019
Dr Shapero is selling his 26 year old two-level property at 2 Woodbine Road, Cranbourne. The 1400sq m Cranbourne Health clinic is fully leased and returns $1.3 million a year. It’s on a 4137sq m site on a corner site and is expected to sell for more than $20 million. Expressions of interest for the major landholding closes in mid-August. CBRE’s medical team, including Mr Peluso, Josh Twelftree and Jimmy Tat are handling enquiries. Mr Twelftree said there are two types of investors in medical centres – those who go for smaller convenience-based GPs and others who prefer super-clinics with their concentration of specialists. Medical centres are very attractive to investors. Last week, Fitzroys sold a 1336sq m medical clinic at 789 Pascoe Vale Road, Glenroy for $9.47 million on a 5.2 per cent yield.
July 22, 2019
Medico investors are on the move. Camberwell pharmacist Martin Baytch is offloading the two-storey Australian Unity building on Burke Road and Cranbourne GP Leon Shapero is selling the clinic he developed on Thompsons Road. The Baytch family superfund has owned 620-624 Burke Road since 1989. The 828sq m building has rear access to Market Place, where Camberwell Market sprawls every Sunday. The building, now leased to PharmaSave and returning $617,733 a year, has operated a busy bulk billing clinic upstairs for many years. There is some vacant space and the lease expires in two years. CBRE agents Rorey James, JJ Heng, Sandro Peluso and Lewis Tony are handling the campaign which closes at the end of August. Phillip Almeida of Performance Property Advisory is representing the vendor. The property is in a blue-chip location and expected to fetch more than $11 million.
July 19, 2019
A private investor has bought a $7.28 million medical centre in Glen Waverly, Melbourne for a long-term investment. The 613 sq m Waverly Medical Centre at 242-244 Springvale Road offers redevelopment upside. It sits on a 1504 sq m site. The medical clinic, which has been operating for over 30 years, sits opposite The Glen Shopping Centre. The asset was marketed and sold by Ray White’s Ryan Trickey and Ben Ainsworth.
October 2, 2018
Jewish Care Victoria has announced its community residence at Caulfield North will be up for sale. The 3683 square metre site has remained vacant since the closure of the Mark and Dina Munzer Community Residence in March 2017.
September 12, 2018
A local investor has snapped up a $12.5 million medical centre investment in Caroline Springs in Victoria at a yield of 4.88 per cent, reflecting its redevelopment upside. The premium medical centre with five tenants including a radiologist, dentist and general practitioners at 224-226 & 228-232 Caroline Springs Boulevard is 119sq m size on a 3135sq m site. It is opposite Lendlease’s CS Square Shopping and has 42 car spaces. The property has “Comprehensive Development Zoning”. CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat brokered the deal for a private owner.
