A retail freehold in Carnegie has sold for $1.725 million. Michael Gross and Jonathon McCormack of Gross Waddell auctioned the property at 178 Koornang Road, resulting in a yield of 6.38 per cent. The freehold is at the southern end of the Carnegie shopping precinct, close to Neerim Road. The property is leased to Warehouse Sales and returns $110,000 a year.
CVA Property Consultants has sold a main road shop and dwelling at 901 Burke Road to a locally based private superannuation fund for $1.3 million based on a 5.56 per cent yield. The ground floor retail shop is leased to Brazilian Sunset on a rental return of $54,080 a year.
Charter Hall Group and Cbus Property have launched a charity partnership with Youth Projects as part of their 171 Collins Street office project. Youth Projects provides health, community, employment, education and training services to unemployed and homeless people. Charter Hall and Cbus Property aim to raise $75,000. The money will go to funding the development of Melbourne CBD's first youth-specific Learning Centre in Hosier Lane.
The Red Cross has leased 500 square metres of office space at 81-85 Barry Street, Carlton. The previous occupants, Inner North Community Centre, moved to Lennox Street, Richmond.. The Red Cross is believed to be paying rent of about $280 a square metre per year. It will still occupy its former head office at 155 Pelham Street, Carlton.
Burgess Rawson Melbourne has promoted Jamie Perlinger to associate director, David Mark to associate director leasing and Robert Stanley-Turner to head the bulky goods division.