MOWBRAY College, the private school in Melton that went bust earlier this year, is for sale. Fitzroys, in conjunction with CBRE, has been appointed to sell the school's three campuses on behalf of the receivers and managers, Sal Algeri of Deloitte. The expressions of interest campaign closes on September 14. David Bourke of Fitzroys said the three campuses incorporated extensive improvements that could be easily adapted for community and/or immediate educational uses. The three facilities include Patterson Campus, a 17.85 hectares site zoned residential 1 with classrooms, halls, gymnasiums and sporting facilities; and the town centre campus and Brookside campus in Caroline Springs.
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An entire office floor in East Melbourne opposite the MCG is on the market. Level one at 112 Wellington Parade - a five-storey office building - overlooks Yarra Park and the 'G', with tram and train services at the front door. The 520 sq m office includes front and rear balconies, and has three car-parking spaces. Offered by Kevin Sheehan Property, expressions of interest close on August 28 at 2pm. It's tipped to fetch about $1.9 million.
Stages one and two of Equiset Grollo Group's M&M Business Park in Preston are now complete. Totalling 43 units plus a cafe, the last five units are up for grabs. Jones Lang LaSalle in conjunction with Love Commercial are marketing the units, which include two office/warehouses with creek frontage, two warehouses and one trade unit with building areas ranging from 88 sq m to 215 sq m. Stage three of the business park is pending development on the sale of the final five units, priced from $220,000.
A prime retail investment in the ''heart'' of Hawthorn is available. The double-fronted shop/dwelling, which comprises two ground-floor retail shops rented by Nelayan Indonesian Bakery & Restaurant, is in Glenferrie Road between Barkers Road and Glenferrie train station. Michael Ryan from BellerTBM is conducting the auction on August 24 at noon.
A retail property on the ground of the 17-level Exchange Tower building at 530 Little Collins Street in the Melbourne CBD is to be auctioned by Knight Frank's Marcus Quinn and Langton McHarg on August 30 at 1pm. The property is securely leased to Hudsons Coffee, returning $64,565 per annum (net). It's tipped to fetch more than $875,000 with a 7.4 per cent yield.
This Thursday, Gross Waddell will auction 684 Glenferrie Road, Hawthorn, at 12pm on site. The two-storey brick building, in the heart of the Glenferrie Road shopping strip, is leased to Ann Lewis Shoes. The anticipated price range is $1.8 million to $1.9 million.
Under mortgagee's instructions, a corner residential property at 1146 Dandenong Road, Carnegie, will go under the hammer. Close to the Chadstone retail complex and subject to a commercial lease as a skin clinic, the timber house will be auctioned by Kliger Wood Real Estate in conjunction with S8 Property on August 24 at 1pm on site. Close to the Koornang Road commercial precinct, it's expected to fetch more than $700,000.
A showroom and warehouse with a small office at 17A Capella Crescent, Moorabbin, is for auction or prior sale by agents Just Commercial. If not sold before, the 340 sq m building will be auctioned on August 30 on site at 1pm. Selling agent Steven Kalb is expecting offers in the early to mid- $400,000 range plus GST for the property, which is offered with vacant possession.
In North Melbourne, 155-161 Boundary Road, located north of Arden Street and south of Racecourse Road, is on the market for sale by tender by ICR Property Group. Offered as vacant possession, the fully refurbished building comprises two levels of airconditioned offices, lift access and 18 basement car spaces.
