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Melbourne Developer Moves in on Brisbane’s James Street

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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.

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Article originally posted at: https://https://theurbandeveloper.com/articles/melbourne-developer-moves-in-on-brisbanes-james-street-