Busy private developer Ross Pelligra has swooped on a prized Melbourne office block, across the street from state parliament, for around $130 million, in a big vote of confidence in the revival of the CBD market.
With its prime position on Spring Street, above a metro entrance at the upmarket east end of town, 85 Spring Street has been a graveyard of developers’ ambitions for almost a decade.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@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
