ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Iglu Builds New Foundations In Melbourne

150416-IgluChatswood_19_620x380

Student accommodation group Iglu has set its sights on Melbourne with the acquisition of a development site near Queen Victoria Market for $20 million.

The Australian Financial Review reported that the 1,548sqm site at 229-241 Franklin Street had been sold at a rate of approximately $12,500/sqm.

The sale was handled by Savills agents Clinton Baxter and Nick Peden.

"It's an exciting time to be developing in the northern CBD with the Melbourne City Council having a genuine focus on rejuvenating the Queen Victoria Market precinct," Mr Baxter said.

Backed by Macquarie Capital and Singapore fund GIC, Iglu currently has three properties in Brisbane and Sydney - Iglu Central and Iglu Chatswood opened last year and Iglu Brisbane is due to open in January 2016.

[googlemaps https://www.google.com/maps/embed?pb=!1m14!1m8!1m3!1d3152.172595032845!2d144.9568904!3d-37.809426099999996!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x6ad65d35e97e3877%3A0xbba1d15b1f469437!2s229%2F241+Franklin+St%2C+Melbourne+VIC+3000!5e0!3m2!1sen!2sau!4v1429145316978&w=800&h=600]

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://theurbandeveloper.com/articles/iglu-builds-new-foundations-melbourne