Receivers sell central Geelong medical centre for $20 million

Receivers for the bank that financed Singapore’s International Healthway Corporation’s $28 million purchase of the Geelong Private Medical Centre three years ago have sold the regional property for a speculated $20 million.

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Office withdrawals reshaping Melbourne

Office withdrawals for conversion to apartments are driving up rents in Melbourne’s St Kilda Road and Southbank, forcing new commercial development into nearby suburbs such as Richmond and Cremorne, analysis from JLL shows.

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Petrol king swoops on Singaporeans’ distress

Singapore’s International Healthway Corporation has found buyers for two prime assets on Melbourne's St Kilda Road, worth $118 million in total, after it lost the confidence of its bankers, who appointed receivers to sell the assets.

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Forza finds Carlton buyer

Boutique fund manager Forza Capital has sold a Carlton office building for $37.05 million, close to double what it paid for it four years earlier. The 6,178 square metre office building was sold on a yield of 6.04 per cent and a rate per square metre of $6,000.

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Forza puts Pelham on market

Melbourne-based fund manager Forza Capital has put its Carlton office building on the market. The four-storey 6178 square metre office building is held in its unlisted Forza Pelham Street Fund and yields around 9.5 per cent a year. It was bought in 2012.

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