ARA Asset Management’s Australian arm has lodged a development application for an $800 million transformation of the two hectare Southgate site on the southern edge of Melbourne’s CBD. Plans for the site, across the Yarra River from Flinders Street train station and adjacent to the famous Arts Precinct, knock down and rebuild the shopping and dining complex, deliver a new 21 storey office…

FIVE years of rental gains across Melbourne’s city fringe office market are tipped to be wiped out by the end of next year as more than 300,000 sqm of stock brought online during the coronavirus pandemic pushes up vacancies. The market has recorded rental growth in prime and secondary assets, in some cases outperforming CBD markets nationally, but according JLL projects supply, withdrawals and…