Four months after paying $30 million for new headquarters on Elizabeth Street, the controversial Victorian arm of the Construction, Forestry, Mining and Energy Union is selling its control centre at Swanston Street, Carlton.
The modern 2266-square-metre building is, sources say, under-utilising the 1388 square metre site opposite the former CUB complex, where a 90-level apartment building has been proposed.
68 Drummond Street, Carlton. Photo: Urban Angles
Marketing agency CBRE is targeting developers, specifically for student accommodation – the site being close to campuses for several major universities. The 500 Swanston Street asset, with three street frontages, is expected to sell for about $20 million, sources say.
Paul Farrelly of Sutherland Farrelly is marketing it with CBRE’s Josh Rutman, Kiran Pillai and Mark Wizel.
69 Banyule Road, Rosanna. Photo: supplied
In December the CFMEU bought the Victorian Branch of the Australian Nursing and Midwifery Federation outgoing headquarters – two adjoining buildings – at 532-540 Elizabeth Street, Melbourne. The asset includes a modern 10-level office which CFMEU Victorian branch secretary John Setka said was purchased “to meet the needs of our growing membership”.
In 2014, the CFMEU sold RMIT University three Carlton properties that it acquired as part of its takeover of another controversial alliance, the Builders Laborers Federation.
Last week, the federal court issued penalties of nearly $500,000 to the CFMEU, which it described as “high handed and arrogant” and with having “the explicit object of inflicting commercial harm” – for a 2014 campaign which targeted eight sites being developed by Kane Construction.
The federal court regularly issues fines against the CFMEU division.
James Bergmuller, chairman of Preston Motors. Photo: MGHunter
Rowville motel selling
Cranes look likely to soar over the sleepy south-east suburb of Rowville for a while – a 7795 square metre site targeted at developers is selling for a speculated $10 million.
The property at 1227 Stud Road is known as the Baton Rouge Motel – but was marketed with vacant possession also to operators who might wish to continue to established business.
The site has 43 motel rooms, three function rooms, a licensed restaurant and a manager’s residence.
It also carries a Residential Growth 1 zoning making it suitable for a four-level apartment complex, agent Kevin Connolly, of CRE Broker said.
The L-shape block, opposite the Powernet Rowville Terminal Station, has a second street frontage to Bergins Road.
Earlier this week, Sydney developer Stockland started construction of a medium-density housing complex, Stamford Park, on a 6.3 hectare site it bought for $17 million from the City of Knox in late 2015. That site will deliver 160 townhouses and 30 flats in a four-level complex.
Every Stamford Park dwelling will include rainwater tanks plumbed for the toilet and laundry and an electric vehicle recharge point in the garage.
Ex-Viewbank House village listed
Commercial real estate agents have been called to help clean up the mess at the Viewbank House retirement village, in Rosanna.
Two months after the operator went into administration and stopped paying the rent, the property owner has listed the site for sale.
The 3869-square-metre site at 69 Banyule Road is expected to appeal to residential developers and aged care operators.
Subject to approval, the property can be configured as an 81-bed aged care facility, selling agents Raff De Luise and Julian Materia, of ICR Property Group said. The site has a 1537-square-metre building with 38 rooms and a two-bedroom manager’s apartment.
The agents are representing vendors who built the complex more than 20 years ago.
On February 15, the operator appointed Deloitte as administrator. Four days later, the city-based auditor sent Viewbank House’s nearly two dozen occupants a letter saying they had to find alternative accommodation within 45 days. One of the residents is 100 years old.
Ten workers also lost their jobs at the business, which had reportedly previously been for sale.
Designer sells stately Carlton home-office
A stately, historic Carlton building, which architect Nonda Katsalidis configured into the Deutscher Gallery and residence in the 1980s, but which has in recent years been used as an office, has sold for about $5.2 million.
The double fronted Victorian property at 68 Drummond Street was offered by fashion designer Gilles Du Puy and his psychologist wife, Vicky Arbes.
Du Puy’s Declic business opened 25 years ago in South Yarra. He now has five stores in Melbourne, three in Sydney and one in Brisbane.
With about 600 square metres of internal space, the Carlton building can accommodate about 40 office workers. It sits on a 535-square-metre block, which offers some redevelopment potential away from the street.
The property was marketed to commercial users and prestige home renovators. It is understood the building has sold to an owner occupier and will remain an office.
Mr Du Puy appointed CBRE’s Tom Tuxworth, Nick Lower and Josh Rutman with RT Edgar’s Oliver Booth and Tim Wilson.
Preston Motors ends era for $13m+
Interests associated with the Preston Motors group are banking a speculated $13 million-plus from the sale to a developer of a major property in Essendon’s Keilor Road – a strip once advertised as “the kilometre of cars” – because of its row of dealerships.
The 5304-square-metre site with three street frontages is zoned Commercial 1, meaning a mixed use redevelopment containing apartments should be straightforward. It was targeted to builders, investors and owner-occupiers (in 2015, Aldi outbid developers paying about $8 million for Burwood’s Penfolds Holden dealership).
Preston Motors has owned 203-211 Keilor Road for 40 years.
Following settlement, the car yard will travel the well-worn path to nearby Essendon Fields, where numerous other ex-Keilor Road dealerships have relocated in recent years.
In 2012, local builder BPM paid $5.6 million one day before the auction for a former Toyota used car dealership on a 2819-square-metre block at 31-37 Keilor Road. Former Nissan and Ford dealerships nearby have also been replaced with apartments in recent years.
The strip, about 10 kilometres north-west of the CBD, is serviced by trams and buses and has thriving retail precincts at Essendon and Niddrie.
Weda Partners agents Allan Brodie and Peter Weda, who have just signed the deal at 203-211 Keilor Road, declined to comment.
Preston Motors, a 105-year old former public company, has been controlled by the Auswild family since 1979. Its chairman is James Bergmuller, grandson of late NSW based entrepreneur Sir James Auswild.
It will be the end of an era when the company closes on Keilor Road having sold cars on the strip since 1948.