Southbank hotel site back on the market
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Liquidators have called time on a Southbank development site that is back on the market for the third time in five years.
The project at 63-69 City Road, was to be the first Melbourne building for Jason Chong’s Malaysian-based Cornerstone Partners Group which had signed up UK hotel group Yotel.
63-69 City Road.
Credit:
Demolition had already started, with No.67 razed despite being listed as contributing to local heritage. No.63 still stands. The site covers 915 square metres.
Southbank hotel site back on the market
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Futuro consolidates Bourke Street tower in separate deals
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Sydney-based Futuro Capital has acquired the historic Tivoli Arcade, shops and car park on Bourke Street in Melbourne from their long-time owner, the Venton International, in a $73 million deal.
The acquisition gives Futuro control over the entire building at 235-251 Bourke Street, after last year striking an agreement to buy a 14-storey section of the tower from RMIT University for $133 million.
The Sydney platform was backed by investment partners Baring Private Equity Asia and Singapore-listed SLB Developments.
The acquisition gives Futuro control over the entire building at 235-251 Bourke Street.
Futuro plans a major refurbishment of the property, with the arcade to be reworked as a high-end retail destination.
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