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BMW Australia puts Melbourne site up for sale

By Angela Teo

/ EdgeProp |

August 17, 2017 2:52 PM SGT

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BMW Australia has put a site at 58 Southbank Boulevard in Melbourne up for sale by international EOI. The site, which has a land area of 66,640 sq m, is expected to fetch A$100 million ($107 million) or more.

Located in Southbank’s Waterfront precinct opposite World Class Land’s Australia 108 project, the site is set to house a mixed-use project designed by Fender Katsalidis, the architecture firm founded by Karl Fender and Nonda Katsalidis. Fender also designed Australia 108.

The mixed-use project will comprise two towers joined by a sky bridge, with potentially 800 apartments, 550 hotel rooms, as well as 107,640 sq ft of commercial space. The site will be offered subject to a 100% leaseback to BMW Australia.

Source: CBRE Melbourne

CBRE Melbourne has been appointed marketing agent for the Southbank site. The international EOI exercise will close on Sept 15.

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