Fashion out and menswear in as global retailers take prime city shops

However, the company is expanding globally and opened a new 370 sq m shop at Westfield Doncaster in May.
Cushman & Wakefield's Cam Taranto and Teska Carson's Adrian Boutsakis did the deal.
There is a significant shift under way in the CBD retail core, Taranto said. 'The internationals are back.'
'As major redevelopment projects along Bourke Street Mall near completion, we're aware of several global retailers currently in advanced negotiations with others confirmed, including JD Sports, TK Maxx, Mecca, Nike and Telstra,' he said.
Porta timber
Cedar Woods has splashed out $50 million on the Porta Timber factory in Fairfield for a 300-unit mixed use project.
Porta, one of Melbourne's oldest businesses, moved to the 11,670 sq m site at 224-256 Heidelberg Road in 1921 and the family which owns the company has held the land for more than 100 years.
The huge property sits on the corner of Yarra Bend Road, boasting city views and 250 metres frontage to swathes of parkland.
It has flexible Commercial 1 zoning which allows for plenty of development options.
Loading
LAWD agents Lukas Byrns, Paul Callanan and Peter Sagar handled the campaign.
Across the road in Darebin Council's Northcote, where the zoning remains industrial despite potential city and park views, another family business has sold its premises.
The Rutledge family, who founded groundbreaking audio-visual technology company Rutledge Engineering, has operated out of 195-199 Heidelberg Road since 1998.
Last week, they sold their 3048 sq m site for $5.5 million to an industrial developer who has plans to redevelop the site with new warehousing units.
Stonebridge Property agents Dylan Kilner, Max Warren and Chao Zhang, with Gross Waddell ICR's Danny Clark and Andrew Waddell negotiated the transaction. Untitled Property's Peter Smyth was transaction manager.
There was plenty of interest from owner-occupiers looking to move out of Collingwood and Fitzroy, where rising property values were leading to higher land tax, Kilner said.
'Securing 11 formal offers shows just how deep demand runs for well-positioned industrial land, even where significant upgrades are required,' Warren said.
St Kilda Road
A former Edwardian laundry in St Kilda that was converted into 10 offices in the 1990s has been put up for sale by its several strata-title owners.
The building, known as The Gresham, is on 2872 sq m at 322-332 St Kilda Road, near the corner of Inkerman Street.
The old laundry, with its distinctive art nouveau facade, was central to St Kilda's main shopping strip until the modernisation of the nearby Junction in the 1960s.
The building is covered by both commercial 1 and mixed use zoning and is expected to fetch more than $14 million.
Cushman & Wakefield's Daniel Wolman, Hamish Burgess, Anthony Kirwan and Leon Ma are handling enquiries.
Up the road, in what was the leafy boulevard's office strip, Shakespeare Property Group is about to take quite the haircut on its office tower, the Flight Centre's old headquarters at 436 St Kilda Road.
Loading
Records show it paid $62.15 million for the building in 2020 as Flight Centre scrambled for cash amid the pandemic-related collapse in air travel.
It was a good move for the travel agent. Shakespeare, the property arm of Prime Value Asset Management is likely to get just $35 million for the 11-storey tower, which is 70 per cent vacant.
CBRE agents Nick Peden, Jamus Campbell, Kiran Pillai and Trent Hobart have the listing.
Suburban offices
Offshore training group AEMG Education has snapped up an office in Hawthorn, paying $7.5 million for 529 Burwood Road.
The 992 sq m double-storey office is on an 1174 sq m site opposite Swinburne University.
Savills agent James Latos, who did the deal with Julian Heatherich, Benson Zhou and Tim Grant, said the vendor had owned the property for more than 35 years.
'This is our team's fourth recent sale of a vacant freehold office to an owner-occupier,' Latos said.
However, investors continue to creep back into the market. Nearby, on the corner of Riversdale Road, a private investor paid $4.31 million for 270 Auburn Road.
Gorman Commercial's Jonathon McCormack, who negotiated the sale with Peter Bremner, said there was lots of interest from owner-occupiers for the partly vacant 738 sq m office.
'It's certainly an owner-occupier market but this one was ultimately bought by a local investor,' McCormack said.
Servo sells
A Sydney-based investor has splashed out $11.78 million on a new servo in Clayton South in a deal reflecting a relatively buoyant 6.17 per cent yield.
The service centre at 548 Clayton Road, on the corner of Bourke Road, was developed by Jasbe Petroleum and completed in 2021.
The 4150 sq m centre includes a BP petrol station, a Carl's Jr fast food joint, a car wash and two warehouses. They return $727,047 a year.
The deal was negotiated by Cushman & Wakefield's George Davies, Raphael Favas, Oliver Hay and Leon Ma.

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The Age

a day ago

• The Age

Fashion out and menswear in as global retailers take prime city shops

However, the company is expanding globally and opened a new 370 sq m shop at Westfield Doncaster in May. Cushman & Wakefield's Cam Taranto and Teska Carson's Adrian Boutsakis did the deal. There is a significant shift under way in the CBD retail core, Taranto said. 'The internationals are back.' 'As major redevelopment projects along Bourke Street Mall near completion, we're aware of several global retailers currently in advanced negotiations with others confirmed, including JD Sports, TK Maxx, Mecca, Nike and Telstra,' he said. Porta timber Cedar Woods has splashed out $50 million on the Porta Timber factory in Fairfield for a 300-unit mixed use project. Porta, one of Melbourne's oldest businesses, moved to the 11,670 sq m site at 224-256 Heidelberg Road in 1921 and the family which owns the company has held the land for more than 100 years. The huge property sits on the corner of Yarra Bend Road, boasting city views and 250 metres frontage to swathes of parkland. It has flexible Commercial 1 zoning which allows for plenty of development options. Loading LAWD agents Lukas Byrns, Paul Callanan and Peter Sagar handled the campaign. Across the road in Darebin Council's Northcote, where the zoning remains industrial despite potential city and park views, another family business has sold its premises. The Rutledge family, who founded groundbreaking audio-visual technology company Rutledge Engineering, has operated out of 195-199 Heidelberg Road since 1998. Last week, they sold their 3048 sq m site for $5.5 million to an industrial developer who has plans to redevelop the site with new warehousing units. Stonebridge Property agents Dylan Kilner, Max Warren and Chao Zhang, with Gross Waddell ICR's Danny Clark and Andrew Waddell negotiated the transaction. Untitled Property's Peter Smyth was transaction manager. There was plenty of interest from owner-occupiers looking to move out of Collingwood and Fitzroy, where rising property values were leading to higher land tax, Kilner said. 'Securing 11 formal offers shows just how deep demand runs for well-positioned industrial land, even where significant upgrades are required,' Warren said. St Kilda Road A former Edwardian laundry in St Kilda that was converted into 10 offices in the 1990s has been put up for sale by its several strata-title owners. The building, known as The Gresham, is on 2872 sq m at 322-332 St Kilda Road, near the corner of Inkerman Street. The old laundry, with its distinctive art nouveau facade, was central to St Kilda's main shopping strip until the modernisation of the nearby Junction in the 1960s. The building is covered by both commercial 1 and mixed use zoning and is expected to fetch more than $14 million. Cushman & Wakefield's Daniel Wolman, Hamish Burgess, Anthony Kirwan and Leon Ma are handling enquiries. Up the road, in what was the leafy boulevard's office strip, Shakespeare Property Group is about to take quite the haircut on its office tower, the Flight Centre's old headquarters at 436 St Kilda Road. Loading Records show it paid $62.15 million for the building in 2020 as Flight Centre scrambled for cash amid the pandemic-related collapse in air travel. It was a good move for the travel agent. Shakespeare, the property arm of Prime Value Asset Management is likely to get just $35 million for the 11-storey tower, which is 70 per cent vacant. CBRE agents Nick Peden, Jamus Campbell, Kiran Pillai and Trent Hobart have the listing. Suburban offices Offshore training group AEMG Education has snapped up an office in Hawthorn, paying $7.5 million for 529 Burwood Road. The 992 sq m double-storey office is on an 1174 sq m site opposite Swinburne University. Savills agent James Latos, who did the deal with Julian Heatherich, Benson Zhou and Tim Grant, said the vendor had owned the property for more than 35 years. 'This is our team's fourth recent sale of a vacant freehold office to an owner-occupier,' Latos said. However, investors continue to creep back into the market. Nearby, on the corner of Riversdale Road, a private investor paid $4.31 million for 270 Auburn Road. Gorman Commercial's Jonathon McCormack, who negotiated the sale with Peter Bremner, said there was lots of interest from owner-occupiers for the partly vacant 738 sq m office. 'It's certainly an owner-occupier market but this one was ultimately bought by a local investor,' McCormack said. Servo sells A Sydney-based investor has splashed out $11.78 million on a new servo in Clayton South in a deal reflecting a relatively buoyant 6.17 per cent yield. The service centre at 548 Clayton Road, on the corner of Bourke Road, was developed by Jasbe Petroleum and completed in 2021. The 4150 sq m centre includes a BP petrol station, a Carl's Jr fast food joint, a car wash and two warehouses. They return $727,047 a year. The deal was negotiated by Cushman & Wakefield's George Davies, Raphael Favas, Oliver Hay and Leon Ma.

Sydney Morning Herald

a day ago

• Sydney Morning Herald

Fashion out and menswear in as global retailers take prime city shops

However, the company is expanding globally and opened a new 370 sq m shop at Westfield Doncaster in May. Cushman & Wakefield's Cam Taranto and Teska Carson's Adrian Boutsakis did the deal. There is a significant shift under way in the CBD retail core, Taranto said. 'The internationals are back.' 'As major redevelopment projects along Bourke Street Mall near completion, we're aware of several global retailers currently in advanced negotiations with others confirmed, including JD Sports, TK Maxx, Mecca, Nike and Telstra,' he said. Porta timber Cedar Woods has splashed out $50 million on the Porta Timber factory in Fairfield for a 300-unit mixed use project. Porta, one of Melbourne's oldest businesses, moved to the 11,670 sq m site at 224-256 Heidelberg Road in 1921 and the family which owns the company has held the land for more than 100 years. The huge property sits on the corner of Yarra Bend Road, boasting city views and 250 metres frontage to swathes of parkland. It has flexible Commercial 1 zoning which allows for plenty of development options. Loading LAWD agents Lukas Byrns, Paul Callanan and Peter Sagar handled the campaign. Across the road in Darebin Council's Northcote, where the zoning remains industrial despite potential city and park views, another family business has sold its premises. The Rutledge family, who founded groundbreaking audio-visual technology company Rutledge Engineering, has operated out of 195-199 Heidelberg Road since 1998. Last week, they sold their 3048 sq m site for $5.5 million to an industrial developer who has plans to redevelop the site with new warehousing units. Stonebridge Property agents Dylan Kilner, Max Warren and Chao Zhang, with Gross Waddell ICR's Danny Clark and Andrew Waddell negotiated the transaction. Untitled Property's Peter Smyth was transaction manager. There was plenty of interest from owner-occupiers looking to move out of Collingwood and Fitzroy, where rising property values were leading to higher land tax, Kilner said. 'Securing 11 formal offers shows just how deep demand runs for well-positioned industrial land, even where significant upgrades are required,' Warren said. St Kilda Road A former Edwardian laundry in St Kilda that was converted into 10 offices in the 1990s has been put up for sale by its several strata-title owners. The building, known as The Gresham, is on 2872 sq m at 322-332 St Kilda Road, near the corner of Inkerman Street. The old laundry, with its distinctive art nouveau facade, was central to St Kilda's main shopping strip until the modernisation of the nearby Junction in the 1960s. The building is covered by both commercial 1 and mixed use zoning and is expected to fetch more than $14 million. Cushman & Wakefield's Daniel Wolman, Hamish Burgess, Anthony Kirwan and Leon Ma are handling enquiries. Up the road, in what was the leafy boulevard's office strip, Shakespeare Property Group is about to take quite the haircut on its office tower, the Flight Centre's old headquarters at 436 St Kilda Road. Loading Records show it paid $62.15 million for the building in 2020 as Flight Centre scrambled for cash amid the pandemic-related collapse in air travel. It was a good move for the travel agent. Shakespeare, the property arm of Prime Value Asset Management is likely to get just $35 million for the 11-storey tower, which is 70 per cent vacant. CBRE agents Nick Peden, Jamus Campbell, Kiran Pillai and Trent Hobart have the listing. Suburban offices Offshore training group AEMG Education has snapped up an office in Hawthorn, paying $7.5 million for 529 Burwood Road. The 992 sq m double-storey office is on an 1174 sq m site opposite Swinburne University. Savills agent James Latos, who did the deal with Julian Heatherich, Benson Zhou and Tim Grant, said the vendor had owned the property for more than 35 years. 'This is our team's fourth recent sale of a vacant freehold office to an owner-occupier,' Latos said. However, investors continue to creep back into the market. Nearby, on the corner of Riversdale Road, a private investor paid $4.31 million for 270 Auburn Road. Gorman Commercial's Jonathon McCormack, who negotiated the sale with Peter Bremner, said there was lots of interest from owner-occupiers for the partly vacant 738 sq m office. 'It's certainly an owner-occupier market but this one was ultimately bought by a local investor,' McCormack said. Servo sells A Sydney-based investor has splashed out $11.78 million on a new servo in Clayton South in a deal reflecting a relatively buoyant 6.17 per cent yield. The service centre at 548 Clayton Road, on the corner of Bourke Road, was developed by Jasbe Petroleum and completed in 2021. The 4150 sq m centre includes a BP petrol station, a Carl's Jr fast food joint, a car wash and two warehouses. They return $727,047 a year. The deal was negotiated by Cushman & Wakefield's George Davies, Raphael Favas, Oliver Hay and Leon Ma.

ABC News

31-05-2025

• ABC News

Regional SA councils struggling to pay for roads call for fairer funding model

South Australian councils say the system for funding road upgrades and maintenance is unbalanced and unfair. Wakefield Regional Council is responsible for a 2,687-kilometre road network, which is longer than the distance between Adelaide and Perth. The council has a lower-than-average population of 6,780 people. It means the council has a lower annual revenue to fund road projects. "Three or four years ago we did a complete analysis of our road network and we worked out we had a $16 million backlog of road upgrades waiting for us," Mayor Rodney Reid said. He said the council created a program to address the backlog by allocating additional money every year for a 10-year period. "Even then, after 10 years, we won't get it back to zero, that's the level of difficulty a regional council like us faces," Mr Reid said. He said the funding demand for road upgrades and maintenance meant the council had to put off other projects. "We've got masterplans for various sporting precincts and we can't really do anything on it unless we get specific funding for it," he said. Councils receive money from the South Australian Grants Commission, which the state government funds. The federal government funds the state government. Mr Reid said he had written to the grants commission asking for a fairer system for regional councils. The commission said it was examining the distribution process to ensure it was fair. "The commission is currently looking at elements of this methodology, including the proposal put to it by the Wakefield Regional Council regarding the distribution of identified local road grants," a spokesperson said. A state government spokesperson said the commission was an independent body that made recommendations for the distribution of grants in accordance with Commonwealth legislation. South Australia receives 5.5 per cent of the identified local roads grants component of financial assistance grants. However, South Australia's population represents 7 per cent of the nation's total population. It has 11.7 per cent of the nation's local road network. The Mid Murray Council has a population of 9,160 people and the second largest road network in the state at 3,386km. Its chief executive, Simone Bailey, said regional councils did not receive enough funding from the federal government. "A lot of that money from the feds is going to councils in the metro area, who don't need funding," she said. A parliamentary inquiry is examining the sustainability of local governments, with an interim report from February highlighting a need for increased funding to Australia's 537 local governments. Wakefield Regional Council received $4.7 million over five years through the federal government's Roads to Recovery program, while Ms Bailey's Mid Murray received $5.8 million. The City of Onkaparinga in Adelaide's south, which received $20.9 million, is responsible for a smaller road network of 1,530km. Ms Bailey said her council's cost-cutting measures, such as closing the Mannum Pool last summer, had hit communities hard. "It was costing us $35,000, which, maybe to some other councils that's not much but for us, it's a lot," she said. "We're not like city councils where we can have huge parking stations or other forms of income. "It was one of the hottest, driest summers on record and the town of Mannum didn't have a pool." A total of 0.51 per cent — $3.45 billion — is allocated to local governments in this year's federal budget, with some council funding put up for tender as competitive grants. Southern Mallee Council Mayor Ron Valentine said a tender system favoured larger councils. "It's prejudicial against small councils like ours because the big players in town, big growth councils, have professional grant writers, directors and all the support teams to be able to come up with really great glossy tenders," he said. "Even if we wanted to put a tender in, it's problematic because we don't have all those assets to put to it. "And then, there's no guarantee you're going to get the money." Mr Valentine said he had raised his concerns with federal government representatives. He said the government already knew who needed funding. "What's not coming is enough money from the federal government to do it," he said. Federal Minister for Regional Development Kristy McBain said the government had initiated the Parliamentary Inquiry into the Financial Sustainability of Local Government, which was the first of its kind in two decades. "We look forward to receiving the final report of the inquiry," she said.