Apr 11 2017Add to Favorites
Melbourne, 11 April 2017 – Melbourne’s waterfront Beach Hotel and neighbouring Foodworks Supermarket has been purchased by Mainland Chinese investors after a hotly contested sales campaign.
Located on a 1,712sqm landholding – in one of Melbourne’s most sought after areas, Albert Park - the Beach Hotel is a two-storey venue situated directly across Port Phillip Bay.
Built in the 1880s, the venue has undergone significant refurbishment over the years, to feature an outdoor courtyard, function spaces, bar and dining rooms and guest rooms on the second level.
Situated within 4km of the Melbourne CBD, the venue benefits from a prime corner position in the populous suburb.
CBRE’s Scott Callow and Mark Wizel marketed the sales campaign, which was strongly contested given the property’s prime position.
“Located in the heart of Albert Park, The Beach Hotel and neighbouring Foodworks supermarket service a prosperous inner bayside suburb of established families and independent young professionals,” Mr Callow said.
“This affluent suburb is earmarked for future residential development, which will ensure this venue is well positioned to benefit.”
Mr Wizel said the property attracted buyer interest from a wide range of local and offshore groups.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
SOURCE: Press Release
Segmenting the population by generation is part of popular culture. The generation that came of age in the 1970s is very different to that of the 1980s or 2000s, having grown up with different technology, political and social events.
When the market gets difficult as it is currently it makes you step back and re-assess. Whilst you can do all of the objective commercial assessment in the world, key drivers are ultimately emotional and psychological. Fundamentally it is your "why" that governs your "how". The strength of these emotional and psychological drivers is what gives you the ware withal and grit to know when to hold, fold, walk away or run.
A few years ago I watched an ESPN documentary on NBA and NFL players and this phenomenon how when their careers are up after their moment in the sun, most, 60% and 78% respectively, end up financially destitute. When you think about the fact that most of these professional athletes earn more in just a year of their career than what most of us will earn via our working jobs in a lifetime, yet end up with nothing, it is really a really interesting phenomenon. On the other hand, there is the story of the UPS worker who never earned more than $14,000 a year and invested consistently, amassing a fortune of $70 million over his lifetime, $36m of which he donated to education-based charities to support young people getting a quality education.
Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.SIGN UP HERE >