A multi-level car park just a stone’s throw away from Melbourne’s popular Queen Victoria Market has sold for $115 million in what is the biggest transaction for a Melbourne CBD development site in five years.
The buyer is Malaysian giant Sime Darby, best known in Australia for its car dealerships in New South Wales and Queensland. The acquisition will be made by its listed developer subsidiary Sime Darby Property, Malaysia’s largest developer based on the size of the land bank held in its own right.
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Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter. Email Campbell at campbell.kwan@afr.com
Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
