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Southbank hotel site back on the market


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. ....

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Futuro consolidates Bourke Street tower in separate deals


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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