After dealing in Melbourne shops, offices, flats and mansions, the Minogue family has quietly invested in the unusual property class of storage units.
Brendan Minogue – the middle sibling to superstar sisters Dannii and Kylie – has bought a portfolio of shells on the fifth and seventh levels of the Skylofts 601 building in Little Collins Street.
Skylofts 601, an atypical city development, was originally an eight-level concrete office, converted into a commercial storage complex in 1996. In late 2004, the storage space was subdivided into shells of various sizes and sold separately to investors, starting from $9900.
In 2012, the lower levels of the building were converted into loft-style apartments. Two years later, a six-storey extension, with 81 flats, was built into rooftop airspace, effectively exhausting any straightforward future development potential.
On 1247 square metres, 601 Little Collins Street also has 35 car parks.
The purchase by the news cameraman is another example of the entertainment family's preparedness to invest in local real estate.
In 2007, Brendan's parents, Carol, a former ballet dancer, and Ron, an accountant, paid $12.5 million for a three-level office investment which was under construction in Church Street, Hawthorn.
In 2009, the family sold two retail assets in Canterbury's Maling Road, a quaint shopping strip where the clan also owned shop-top apartments.
Dannii once owned a flat in St Kilda Road's Chevron Hospital redevelopment. Sister Kylie, also a singer and actress, retains a Melbourne residential property portfolio with assets in Richmond and Armadale (the latter in a heritage-listed street distinguished for having 32 identical cottages).
In 2002, Kylie gifted her parents a $2.4 million unrenovated mansion with a pool and tennis court in esteemed Monomeath Avenue. Agents speculate that Canterbury home would be worth about $10 million today.
Outside of Melbourne, the family once owned a historic homestead, Beauciel, on French Island.
Queenscliff Hotel
The Queenscliff Hotel has sold for about $3.5 million to a local entrepreneur, who plans to renovate and retain it as an investment.
The circa 1887 building – for decades run by the late Mietta O'Donnell as a Mietta's restaurant – was offloaded by members of the Schuetz family, who have controlled it since 2002. Popular proprietor Johann Schuetz, who died late last year, refused an offer to sell the building a few years ago.
At 16 Gellibrand Street, the Queenscliff property offers 16 hotel suites, three guest lounges, a library, bar, dining room, breakfast room and commercial-grade kitchen with storage and a cool room.
Abercromby's Tim Derham and Andrew Harlock marketed the Queen Anne-style property. It is expected the new owner will restore it as a high-end hospitality venue anchored by a quality restaurant.
Moishe Gordon Travels Out of Carlton
Philanthropist and prominent business identity Moishe Gordon has listed Carlton's Travel Inn Hotel site at 225-245 Drummond Street.
The chairman of Gordon Group, which has interests in hotels, manufacturing, aviation and real estate, is asking $20 million for the 2236-square-metre block identified by a low-rise former brown brick building which has been rendered lemon. The land is a few blocks from the pocket of Carlton undergoing high-rise development (including, in one case, a 90-plus-level proposal).
CBRE's Scott Callow is marketing the 100-suite hotel with vacant possession.
Henley Invests in Wollert
Henley Homes is paying a speculated $14 million for a 20-hectare parcel in Melbourne's north.
The Wollert block known as 75 Craigieburn Road East abuts Evolve Development's Summer Hill estate and is also near AV Jennings' Lyndarum village, which has a town centre.
Until recently a rural hamlet, Wollert, about 30 kilometres north of the town, will soon find itself a middle-ring suburb, with Melbourne's Urban Growth Boundary recently extended to near Wallan, about 50 kilometres from the CBD.
Wollert is between the more established neighbourhoods of Craigieburn and Epping North.
Biggin & Scott Land's Andrew Egan and Frank Nagle marketed the block. It has the potential to accommodate thousands of new residents on hundreds of home sites.
John Harvey, co-founder and director of the successful local Henley home builder, said he expected to be marketing a new Wollert estate within a year.
Mecwacare Buys a Malvern HQ
Aged care group Mecwacare is paying an estimated $5 million for a Malvern building, which will become its headquarters.
Formerly occupied by Clive Peeters, 1287-1289 Malvern Road has a floor area of 1265 square metres and 14 car spaces. It recently underwent an internal refurbishment.
GormanKelly's Robert Kelly and Mario Nobrega marketed the property.
They say the building can accommodate more than 50 staff.
It is on a 775-square-metre block in a commercial precinct of the exclusive suburb, serviced by a tram.
Italian Educator Leases Carlton Office
Interests associated with the Centre of Italian Studies have leased the upper levels of a three-level Carlton building, near the pizza and pasta-themed Lygon Street retail strip.
Also close to the University of Melbourne and Royal Melbourne Institute of Technology, CIS will use the space for a subsidiary, Melbourne Training Associates, which teaches English. An application to amend the permitted use of the upper levels from office to education is being reviewed by the City of Melbourne.
CVA associate Bradley Ellul co-ordinated MTA's relocation from the CBD to 245-249 Cardigan Street. Mr Ellul was responsible for filling the building late last year. It returns the owner $75,000 in annual rent.
Martin Strode/Lyric Theatre Proposal Take II
Fitzroy's historic Lyric Theatre will be razed but the neighbouring MacRobertson Garage site will be retained as part of amended plans which have quietly been pursued by local developer Martin Strode.
The developer's SMA Projects plans to build an 11-level complex with 160 flats and 141 residential car parks at 239-249 Johnston Street; a site incorporating the venue also once known as the Star Lyric.
Strode's proposal replaces an earlier plan for a 10-level, 155-unit complex with 143 parking bays. In that 2013 proposal, both historic buildings on the inner north site would have been demolished.
On the corner of Gore Street, the property was for years occupied by Jimmy Possum furniture. The properties have also been leased to the Dogs Breakfast Trading company and is now part-occupied by Dimmeys.
The art nouveau-style silent picture theatre – hidden from the street behind a rendered blue wall – screened films between 1922 and 1952.
Strode will retain the Lyric name in the proposed complex, which is expected to be launched in a few months.
In nearby Collingwood, SMA Projects is replacing the former Yorkshire Brewery site with a mixed-use village topped by apartment buildings; the tallest rising 17 levels.
Email: marcpallisco@gmail.com
Twitter: @marcpallisco
