{"id":39263,"date":"2016-12-30T17:09:49","date_gmt":"2016-12-30T10:09:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/brunei-prince-turns-profit-from-sale-of-melbourne-university-building\/"},"modified":"2016-12-30T17:30:11","modified_gmt":"2016-12-30T10:30:11","slug":"brunei-prince-turns-profit-from-sale-of-melbourne-university-building","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brunei-prince-turns-profit-from-sale-of-melbourne-university-building\/","title":{"rendered":"Brunei prince turns profit from sale of Melbourne university building"},"content":{"rendered":"


\nFierce competition for this property
\nYarra River in Melbourne at sunset looking towards Southbank. Cornelius Darrell Sunarjo\/Shutterstock
\nKLW Holdings, a Singapore-listed company chaired by Brunei Prince Abdul Qawi, has sold seven-storey university building in Melbourne for AUD34.2 million (USD24.7 million) to the Poulakis family of Harrolds fortune.
\nThe deal, priced at a land rate of AUD38,212 per sq m (USD27,600), overshoots the property\u2019s September valuation of AUD25.6 million (USD18.5 million). KLW acquired the property from Victoria University in 2014 for AUD23.6 million (USD17 million) or a land rate of AUD26,368 (USD19 million) per square metre.
\nMore: Leading Edge: Are Asian buyers being set up for a fall in Melbourne?
\nThe Poulakis\u2019 purchase effectively ends months of competition for the building, located at 301 Flinders Lane within the Victoria University of Technology City Campus. \u201cWe have been selling similar buildings for near on ten years in the Melbourne CBD and never before have we seen the depth and aggression from buyers in the sector like we saw here,\u201d Kiran Pillai of CBRE, which brokered the deal, told the Australian Financial Review.
\n\u201cThe [Poulakis] family called me virtually on the first day that the signboards were erected and said that this was something that they were very attracted too and would compete fiercely to acquire,\u201d said CBRE\u2019s Paul Tzamalis.
\nRead next: Which Australian markets are the biggest gainers of 2016 so far?
\n
\nSource : property-report.com
\nRead more…Brunei prince turns profit from sale of Melbourne university building<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fierce competition for this property Yarra River in Melbourne at sunset looking towards Southbank. Cornelius...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-39263","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-adh","jetpack-related-posts":[{"id":119582,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vital-healthcare-property-trust-buys-half-hectare-melbourne-site-for-a350m-hospital-project\/","url_meta":{"origin":39263,"position":0},"title":"Vital Healthcare Property Trust buys half-hectare Melbourne site for A$350m hospital project","date":"December 22, 2020","format":false,"excerpt":"\r Vital Healthcare Property Trust has bought a half-hectare Melbourne development site where a A$350 million medical project is planned.NorthWest Healthcare Properties Management announced the purchase of 5330sq m of land in the Box...\r \r Source : nzherald.co.nz\/Property\r Read more...Vital Healthcare Property Trust buys half-hectare Melbourne site for A0m hospital\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109472,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/investors-should-take-a-closer-look-at-commercial-property-in-tokyo-seoul-and-melbourne\/","url_meta":{"origin":39263,"position":1},"title":"Investors should take a closer look at commercial property in Tokyo, Seoul and Melbourne","date":"July 30, 2019","format":false,"excerpt":"\r The prolonged low interest rate environment has created challenges for investors in deploying money in financial markets, as higher return opportunities are hard to find. 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