Automotive giant BMW has appointed CBRE to market its Melbourne flagship sales showroom – unlocking 6,191sqm of prime Southbank real estate that is expected to ignite global development interest.
The triple fronted property, located at 58 Southbank Boulevard, is in a coveted corner position, presenting an attractive development opportunity in one of Melbourne’s most sought after inner-city suburbs.
The property is mooted to form part of a mixed-use development, with a highly advanced development scheme being designed by architecture firm, Fender Katsalidis. The project will comprise two towers accommodating over 800 apartments, 600 hotel rooms and 10,000sqm of retail space.
CBRE’s Mark Wizel, Josh Rutman, Julian White and Lewis Tong are managing the sale process via an International Expressions of Interest campaign.
Mr Wizel said Southbank had become home to some of the highest quality and most desirable residential towers, premium office buildings and Melbourne’s best hotel destinations.
“Ultimately what investors are looking for is confidence, and you couldn’t be more confident investing in the Southbank precinct off the back of Crown’s $1.75 billion investment into the One Queensbridge mixed-use development,” Mr Wizel said.
“There is over $7 billion worth of public and private infrastructure investment within the future supply pipeline in Southbank through to 2021. This includes many commercial and mixed-use projects, which will add to the existing amenity in the area, and will allow for more local jobs.”
Mr Rutman said ongoing investment in Southbank would underpin strong buyer interest.
“Key aspects of the substantial investment into Southbank include more than one kilometre of dedicated, separated bicycle lanes, upgraded tram and bus stops, the extensive planting of new trees and a new neighborhood space,” Mr Rutman said.
“Investments like this send a clear message to both interstate and overseas observers that Melbourne is by no means a city sitting on its hands and reveling in its most liveable city rating.”
Expressions of Interest close 15th September 2017.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
