logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Our website uses cookies and other technologies so that we can remember you and understand how you and other visitors use our website. By continuing to browse this Site, you are agreeing to our use of cookies. Click here for more information on our Cookie Policy, including how you may control the information we collect about you through cookies.
Read More
Accept
Australia
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Ghana
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Latin America / Caribbean
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Nigeria
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Africa
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Asset Services
      • Capital Markets
      • Global Workplace Solutions
      • Valuation & Advisory Services
      • Investment Management
    • Industry & Specialties
      • Office
      • Industrial & Logistics
      • Retail
      • Residential
      • Agribusiness
      • Building, Depreciation & Cost Consultancy
      • Government Real Estate Advisory & Transactions
      • Hotels
      • Sustainability
      • Retirement & Healthcare
    • Services for Investors
      • Debt and Structured Finance
      • Experience Services (CBRE 360)
      • Institutional Investments
      • International Investments
      • Investment Advisory
      • Structured Transactions & Advisory
      • Leasing & Advisory
      • Metropolitan Investments
      • Property Management
      • Property Sales
      • Recovery & Restructuring
      • Valuation & Advisory
    • Services for Occupiers
      • Enterprise Facilities Management
      • Experience Services (CBRE 360)
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Project Management
      • Sale and Leaseback
      • Structured Transactions & Advisory
      • Transaction Management
      • Valuation & Advisory
      • Workplace
  • Properties
    • Agribusiness
      Hotels
      Industrial & Logistics
      Institutional Investments
      Metropolitan Investments
      Office
      Residential
      Retail
  • Research & Reports
    • About Research
      Australia Research Archives
      Asia Pacific Research
      Global Research Gateway
  • People & Offices
    • Executive Committee
      Local Office Leadership
  • About CBRE
    • Careers
      Case Studies
      Corporate Information
      Corporate Responsibility
      Investor Relations
      Client Tools
      Media Centre
      The Place Makers
      CBRE Who are we?

Previous

Aria Hotel sale caps off strong year for stand-out Canberra market

Next

Investor demand builds confidence in WA retail market
  • Home
  • About CBRE
  • Media Centre
  • Former bookie doubles his money with Southbank divestment

Former bookie doubles his money with Southbank divestment

Melbourne | 7 February 2018
  • Email
  • Share
  • Tweet
  • Share
Former bookmaker and Betstar founder Alan Eskander has sold a Southbank office property for $5.85 million – more than double what he paid for the site in 2013. 

The 584sqm property at 34-36 Market Street is located in South Melbourne’s eastern business district. 

CBRE Victorian Development Sites’ David Minty, Mark Wizel, Nathan Mufale and Chao Zhang managed the sale process on behalf of Mr Eskander. 

The transaction represented a land rate of more than $10,000 per square metre with a building rate in excess of $13,000 per sqm.  

Mr Minty commented: “Unprecedented tenant demand, low vacancy rates, rising rents and yield compression are collectively creating the emergence of new office markets in and around Melbourne’s CBD. 

“The rapid popularity of commercial 2 zone sites in 2017 surpassed expectations, with land rates for traditionally light industrial uses now attracting premiums which are almost rivalling that of zoned sites suited for residential development.” 

Mr Mufale said South Melbourne was one of several suburbs growing in popularity. 

“Suburbs such as Richmond, Collingwood, Cremorne, Abbotsford and South Melbourne are fast becoming hot spots, popular with both local and offshore developers for the delivery of new office developments.” 

The site is located nearby 81-109 Moray Street in South Melbourne, which the Deague family acquired recently for more than $24,650,000. A seven level commercial office building with 15,000sqm of NLA has been proposed for the site. 
 
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Contact Us

$name
Natasha Pierson
Senior Communications Manager
Australia
+61 405 260 978
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • Case Studies
  • People & Offices
  • Executive Committee
  • Investor Relations
  • Contact Us
  • Australia Privacy Policy
  • Privacy Policy
  • Australian Job Applicant Privacy Policy
  • Sitemap
  • Terms of Use
  • Instagram
  • Facebook
  • Twitter
  • LinkedIn
  • Google