Arrow Capital pays $10m for Clayton warehouse
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Clayton South
Arrow Capital Partners have swooped on a large single-storey warehouse and office building with 7200 sq m of gross leasing space at 110-112 Fairbank Road and 199A Obsorne Avenue. Colliers International’s
Jonathan Mercuri said the industrial facility sold with a seven-year WALE under a lease to MPM Marketing Services. The property fetched $10.4 million.
South Melbourne
A vacant 340 sq m three-level warehouse conversion at 23 Union Street has sold for $2.89 million following more than 120 inquiries. The creative office building with a rooftop courtyard and CBD views fetched a building rate of $8500 per sq m, Fitzroys’
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The parent company of the “Dunn’s Famous” deli-restaurant group has been awarded about $500,000 for trademark infringement by five operators, including four in Ottawa.
In a ruling in January, Federal Court Justice Richard Southcott awarded the damages to Montreal-based Dunn’s Famous Holdings International Inc., the owner of the well-known trademark, which dates to 1927 and the original deli on Ste. Catherine Street in Montreal.
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The judgment said Stanley and Ina (Dunn) Devine the daughter of founder Myer Dunn, who died in 1993 entered into a number of agreements between 2007 and 2018 “purporting to provide licences” to third parties without the authority of Famous Holdings International Inc., the sole trademark holder.
Off-shore buyers are looking for safe property harbour
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There are suggestions international buyers could be returning to the city, encouraged by the success of Victoriaâs handling of the COVID-19 pandemic.
Down at the Victoria Market end of the CBD, a double-storey shop at 469 Elizabeth Street changed hands for $5.2 million.
469 Elizabeth attracted 11 offers and sold on a 3 per cent yield.
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Records show the property, leased to Sarawak Kitchen, was previously owned by Malaysian-based billionaire Loh Kiam Chong who sold it in 2016 for $2.9 million to a local investor.
It flipped again over the summer to a Chinese buyer. Tiga Commercial agents David Sia, Martin Leong and Nicholas Hii handled the transaction which attracted 11 offers and sold on a 3 per cent yield.
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