The sale of two suburban Melbourne malls has delivered contrasting outcomes for their respective vendors, after a Home Consortium large-format outlet in Knoxfield sold well above its book value for $45 million, while Chinese investors took a substantial haircut on a neighbourhood mall in Mornington that traded for just over $30 million.

HomeCo Knoxfield, a 13,603-square-metre homemaker centre on a 4.34-hectare site in Melbourne’s eastern suburbs anchored by Amart Furniture, sold on a 5 per cent yield to private investment and development company Troon Group.