Melbourne Developer Moves in on Brisbane’s James Street


Melbourne-based developer and “entrepreneur” Robert Zagame has acquired a prominent site on Brisbane’s trendy James Street in an off-market deal.

Although the developer declined to comment on the acquisition, the site changed hands for about $6 million. The vendor was the managing director of Australian fashion brand Kookai, Robert Cromb. Cromb acquired 49 James Street in 2014 for $4.5 million.

Located on a prominent corner on James St, adjacent to the soon-to-be opened Calile Hotel, the site houses a heritage-listed 19th century building, four retail and three commercial tenancies.

Cromb appointed local Brisbane firm Cavill Architects to design a mixed-use four-storey office building, with ground-floor retail. Zagame declined to confirm whether he will move ahead with Cavill Architect’s 49 James Street scheme.

[Related reading: Newstead's Latest Commercial Offering: Rethinking the Traditional Work Space]

Image: Cavill Architects
Image: Cavill Architects

Robert Zagame heads the Zagame Corporation, a hospitality company which owns a suite of Victorian pubs and restaurants in Ballarat, Berwick, Boronia, Caulfield and Reservoir. In 2017, Zagame sold the four-star Grand Hotel and Casino in Vanuatu’s Port Vila for $25 million. The company is currently developing a Fender Katsalidis-designed apartment building in Carlton’s Lygon Street.

[Related reading: Neglected South Bank Parklands Precinct Reborn as Creative Arts Space]

In 2015 Zagame sold Broadbeach’s Oasis shopping centre for $103.5 million, five years after acquiring the asset for $38.9 million.

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: