Strip club an island in sea of city apartments
Far East Consortium recently paid $10 million to buy the Citywide Service Solutions building next door to its mammoth Upper West Side apartment complex, providing it with a further 1000 square metres for expansion.
The deal leaves The Men's Gallery on the southern corner of King and Lonsdale streets the only freehold site in the precinct not controlled by Far East Consortium or Central Equity.
A representative of the adult entertainment venue declined to comment, but Fairfax Media understands that no offers have been made on the property by developers.
That block of Lonsdale Street is already set to become home to more than 6500 apartments, making it one of the most dense concentrations of high-rise residential towers in the city.
Street cleaning company Citywide, which is owned by Melbourne City Council, had listed the 1072-square-metre site at 605-611 Lonsdale Street for sale with an asking price of $10 million. Title records show the buyer is UWS 5 Pty, a subsidiary of Far East Consortium.
The only other building not controlled by developers along the 200-metre strip is Lonsdale Court, a strata-titled office building located on the northern corner of King and Lonsdale streets.
Hong Kong-based Far East Consortium did not respond to a request for comment.
cvedelago@theage.com.au
Frequently Asked Questions about this Article…
Developers have bought almost the entire western end of Lonsdale Street between Spencer and King streets, leaving the strip club The Men's Gallery as the last freehold site in that precinct not owned by residential developers. The block is set to contain more than 6,500 apartments, making it one of the densest concentrations of high‑rise residential towers in the city — a fact everyday investors may want to watch as it affects local property supply and development activity.
Hong Kong‑based Far East Consortium recently paid $10 million for the Citywide Service Solutions building at 605–611 Lonsdale Street. Title records show the buyer as UWS 5 Pty, a subsidiary of Far East Consortium.
The site purchased is a 1,072‑square‑metre property at 605–611 Lonsdale Street. It had been listed for sale by street‑cleaning company Citywide with an asking price of $10 million.
The acquisition gives Far East Consortium an additional roughly 1,000 square metres to expand its Upper West Side apartment complex, providing more development footprint within the already heavily targeted Lonsdale Street precinct.
According to the article, The Men's Gallery remains the only freehold site in that pocket not controlled by Far East Consortium or Central Equity. A representative of the venue declined to comment, and Fairfax Media understood that no offers have been made on the property by developers.
Lonsdale Court, a strata‑titled office building located on the northern corner of King and Lonsdale streets, is the only other building along that 200‑metre strip not controlled by the major residential developers mentioned in the article.
Citywide, the street‑cleaning company whose building was sold, is owned by Melbourne City Council. The council had listed the 1,072‑square‑metre site for sale with an asking price of $10 million, and title records show it was bought by a Far East Consortium subsidiary.
A representative of The Men's Gallery declined to comment, and the article notes that Hong Kong‑based Far East Consortium did not respond to a request for comment.
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