MFS Living and Leisure Group has finalised the purchase of the Northbank Place site in Melbourne's CBD.
The 6,140 sqm parcel was formerly
The property was bought by MPY and its joint venture partner
The JV partners have plans to develop a $200 million three tower project on the site. In November last year, the office component of the project was sold for in excess of $50 million, which was also settled today.
MPY’s chief executive Marshall Vann said the completion of the transaction came after years of planning for the prime site.
“The other two towers in the project will include the centre building with six levels of podium car parking and 196 residential units. The third tower, located at the
It is expected that all the towers will be completed by December 2008 with an imminent construction start.
Vann said it is anticipated that the
Australian Property Journal