Representing one of the major acquisitions, the Burwood One Shopping Centre, where the Logo Design of many major retailers are prominent, exchanged hands late last year to a Hong Kong investor for $181.5 million.
It was among several projects that returned over $100 million, while most of the other properties acquired were sold for less than $30 million, according to a recent CBRE report.
According Mark Wizel, CBRE director of investments, the strong interest from abroad for the Melbourne market is reflected in the recent sales. He added:
“The fact that so many of these transactions have involved off-shore investors and particularly Asian investors is no accident. The populations of centres like Box Hill and Glen Waverley have been largely swelled by new Asian residents, and investors, in some cases linked by family and or finance to those residents, feel very comfortable in buying into such areas.”
Sales to overseas investors have also included $28.5 million for 60-62 Maroondah Highway, Ringwood, $13.3 million for 941-947 Whitehorse Road, Box Hill, $18.8 million for the Maroondah Shopping Centre and $25.5 million for the Burwood East property at 12 Lakeside Drive.Get a Free Quote for Logo Design