Powered by

Investor makes 287pc return

Mar 9, 2017 - Australian Financial Review

A Melbourne investor has made an astounding 287 per cent gross capital gain in three years on a boutique commercial building in the city centre after selling to a mainland Chinese investor.

The art deco-style building known as Bourke House on the corner of Bourke and Russell Streets sold for $33 million on a yield of about 4 per cent. It previously sold for $11.53 million in 2014.

Selling agents CBRE and Gross Waddell said the deal set a new Melbourne CBD land record of over $88,000

Sign up for unrestricted access to 200+ subscription services.
Already have an account? Click here to login.

RelSci News & Alerts gets you:

  • 5 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
  • Competitive business intelligence through daily data updates
  • Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox