Bell City is located on the site of the former Preston & Northcote Community Hospital (PANCH) which operated on the site from 1960-1998. The site has since been extensively redeveloped to provide a large, mixed-use property. Branded as a “city within a city”, the 24,214 sqm site is substantial and diverse, comprising six free-standing buildings including two hotel towers with an adjacent conference building, a restaurant/conference building, a commercial office building and a student accommodation block (Lodge). The site offers a total of 844 accommodation rooms, two restaurants and a cafe, six floors of commercial office space, a total of 652 car spaces (both above and below ground), storage facilities, retail tenancies, 15 conference and function rooms, a large swimming pool and a fitness centre.
Bell City provides diversified and complimentary earnings in hotel & residences; budget/student accommodation and commercial offices (all separately titled). There also exists scope to sub-divide the development site on the north eastern corner of the property.
In July 2018 Elanor Investors Group exchanged contracts, on behalf of the Bell City Fund, for the sale of the Bell City property. The sale to funds managed by Gaw Capital Partners, a Hong Kong based real estate private equity firm, is subject to FIRB approval.
The transaction is expected to settle in late July 2018.
215 Bell St, Preston, VIC, 3072