Tigers star Dusty Martin kicks off $25m property portfolio sale
Retiring Richmond footy star Dustin Martin and his manager Ralph Carr are selling up their Victoria Street properties in Abbotsford.
Martin and Carr jointly and separately own a portfolio of buildings in Abbotsford and Richmond, worth more than $25 million, which has been acquired since 2016.
Dustin Martin paid $3 million for Victoria House at 367 Victoria Street in 2019 and in 2020, he splashed out a further $4.8 million on a string of buildings at 401-407 Victoria Street in a joint venture with Ralph and businessman Chris Bissiotis.Credit: AFL Photos via Getty Images
Martin, who played 301 games for Richmond over 15 years, announced his retirement this year but has since embarked on talks with the Gold Coast Suns.
Selling up some of his extensive property holdings could fund a shift to the Goldie or a new post-football career.
Dubbed the Victoria Street Collection, the fully leased properties are expected to fetch between $14-15 million, double the original outlay.
Records show Martin paid $3 million for Victoria House at 367 Victoria Street in 2019 and in 2020 he splashed out a further $4.8 million on a string of buildings at 401-407 Victoria Street in a joint venture with Ralph and businessman Chris Bissiotis.
367 Victoria Street, Abbotsford.Credit:
They are for sale through Jones Real Estate’s Paul Jones and Luke Peric, who declined to confirm the vendors.
Martin and Carr also own a strip of buildings on Butler Street, Richmond – parallel to Victoria Street near North Richmond station – which they bought for $10.5 million between 2016 and 2022.
Carr, a veteran manager of music and sporting talent, also co-owns his office building at 229 Lennox Street, Richmond, with his longtime client, singer Tina Arena. His Richmond interests are understood to be worth around $50 million.
401-407 Victoria Street, Abbotsford
Frocked up
Crown has its luxury retail mall tightly sewn up so it’s always been surprising that independent boutiques haven’t popped up on the surrounding streets to offer casino patrons glamorous alternatives to the stuff inside.
Balouch Boutique, which makes one-of-a-kind frocks, has nabbed a 230 square metre shop at 18 Power Street, Southbank, opposite the casino hotel, at the foot of an apartment building.
The $90,000 a year leasing deal was negotiated by NSL Property Group’s Guy Naselli and Joseph Louis Real Estate’s Adam Caruso.
Really?
A $100 million-plus office building in the new Arden precinct, where the Allan Government recently canned a proposed hospital complex, is being offloaded in a “realisation sale”.
The first completed commercial building in the 44 hectare redevelopment zone is at 88 Laurens Street, diagonally opposite the new Arden underground railway station and next door to the historic Weston Milling silos.
Accord Property Group, which developed the project, is selling the 12-level 17,781 sq m building and targeting a 5.5-star NABERS Energy rating and a 5-star Green Star Design rating. It was funded by real estate investment manager, MaxCap.
The office at 88 Laurens Street in North Melbourne is for sale.Credit:
Designed by Clarke Hopkins Clarke, it is on a 2678 sq m site, backing on to Munster Terrace, and has 247 carparks and 162 bike spaces.
George Weston Foods, which occupies the large site next door at 24-78 Laurens Street, is shifting its milling operations to Ballarat. The first flour mill at 1 Munster Terrace opened in 1888.
Demonstrating the dramatic shift in land use, the Arden precinct is pitched as an extension to the biomedical and life sciences hub next door in Parkville.
Unfortunately, the vibrations from the trains running under the proposed medical facility – in a corner between Arden Street and CityLink – would interfere with a range of procedures offered at the hospital.
The 2022 Arden structure plan earmarks the site as a hub for life sciences, health, digital technology, and education, so there are plenty of options on the table.
Cushman & Wakefield’s Leigh Melbourne and Nick Rathgeber have the listing.
Accord is also selling the $60 million Mercure Hotel it built above the new Bunnings warehouse next door to Westfield Doncaster. Savills agents Benson Zhou and Mark Durran are negotiating with a couple of parties.
Porter site
Newish developer Kincrest has snapped up an office development site in Prahran for $4.5 million, at a land rate of $9000 per sq m, just north of the trendy Greville Street precinct.
Kincrest will add the 500 sq m site at 43 Porter Street to its own proposed $100 million development at the rear, at 3-7 Grattan Street.
The Porter Street property, which sits in the commercial strip along the Sandringham railway line, came with an approved permit for an eight-storey 2169 sq m office building.
Kincrest has engaged Cheah Saw Architecture to combine the sites into one project.
Colliers’ Ben Baines handled the off-market deal.
Clay quarry
The last of the clay quarries belonging to brick and tile maker Daniel Robertson is up for sale in Clyde North on the city’s south-eastern fringe.
The 61.59 hectare parcel of land on the corner of Hardys and Tuckers roads has been owned by the brickmaker since 1988.
It’s in the Thompsons Road PSP and earmarked for a town centre and residential and commercial development. It’s worth about $150 million.
The former clay quarry on the corner of Hardys and Tuckers roads.
The old quarry is on three titles at 105 and 125 Hardys Road and 415 Tuckers Road and surrounded by developments undertaken by the country’s largest developers, Stockland, Mirvac, MAB, Brown Property Group and Frasers.
The family business, established in 1853, sold out to Brickworks in 2011 and has been selling down its quarries over the past 15 years. It is for sale separately or in-one-line over three titles.
“This sale is part of our long-term plan and will be a significant milestone. It marks the last piece in the unwinding of Daniel Robertson Pty Ltd, our fifth -generation family brick business founded in 1853,” Daniel Robertson director Peter Robertson said.
“It signifies the conclusion to our 20-year journey in leaving manufacturing, and rehabilitating and selling our much-prized property portfolio.”
Stonebridge agents Julian White, Justin Dowers, Lucas Gentile and Chao Zang are handling the campaign, along with LAWD’s Paul Callanan, Peter Sagar, Lukas Byrns and Darcy Tobin.
Op shop
Catholic charity St Vincent de Paul has been on a spree, selling its Collingwood op shop and two properties opposite the Royal Childrens Hospital.
An owner-occupier, with plans to run a cycling studio, bought the shop at 123 Johnston Street, Collingwood at auction for $1.5 million.
123 Johnston Street, Collingwood
The charity has owned the single level building since 1968. It’s on the corner of Dight Street, opposite the Gold Street intersection. The op shop, next door to one of Johnston Street’s many record shops, has been closed for some time.
In North Melbourne, the buildings at 195 and 197 Flemington Road, owned by the VincentCare homeless and housing service, also sold to an owner-occupier at auction.
195-197 Flemington Road, North Melbourne
A law firm paid $3.15 million for the two properties which also attracted interest from medical practitioners given the number of hospitals in the area.
CBRE agents Scott Hawthorne, David Minty, JJ Heng and Alex Brierley handled the sales.
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