Victoria Commercial Property News

The organisation supporting widows and dependants of deceased and incapacitated ex-service men and women has earned a windfall from the sale of its Ryrie Street headquarters.

Agents expect interest from Melbourne, government departments as a floor opens up in Geelong council’s new headquarters.

The largest private landholding with beach frontage on Phillip Island has hit the market. The 15,363sqm site is made up of seven titles, all in a residential zone, and has been home to the Kaloha Holiday Resort for more than 40 years.

THE development potential of sites in three suburbs will be put to the test in separate campaigns.

Business groups and developers say affordability will decline and commercial rents will rise in Victoria as a result of the $2. 4 billion in new property taxes announced in last week’s state budget. Business leaders have dismissed treasurer Tim Pallas’s contention that the budget reflects “a fair and progressive tax system that makes sure everyone pays their fair share to support Victoria’s economic recovery.”

The latest circuit-breaker will set return-to-work back much longer than a week and could drive more businesses to the ‘burbs.

A former Geelong bank building dubbed a ripper development opportunity it set to get a new lease on life after being traded.

A Bendigo building tenanted by Australia Post, sold for $6.375 million this week in a competitive auction that saw a Melbourne investor win-out against a local bidder. Recent commercial sales in the City of Bendigo have reflected the interest of interstate investors in Victoria’s fourth largest city.

Hospitality players are circling the only venue atop Arthurs Seat — “with the most incredible views of anywhere along the entire Mornington Peninsula”.