25 Nov '13, 6am

#Singapore #AUSBUBBLE #GlobalREBubble 'Melbourne A Preferred Property Destination for Asians' via @SGPropertyGuru

Nov 25, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share Commercial property assets in Melbourne have been attracting Asia-based buyers, who snapped up 12 of 15 properties sold in the last 10 weeks by Savills. The consultancy revealed that the most recent deal involved the record sale of a single retail shop in one of the most sought-after retail destinations in Australia. 254 Collins Street was sold to a China-based private investor for A$14.21 million (S$16.28 million). With a very tight yield of 4.42 percent, the three level freestanding 398 sq m building is leased to international clothing brand KOOKAI. Earlier, 388 Lonsdale Street which houses the Melbourne Institute of Technology (RMIT) was sold to a syndicate of buyers from mainland China for A$20.5 million (S$23.5 million). The sale was highly contested as the imminent vacancy of RMIT provided v...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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