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.