Singapore listed developer Ho Bee Land (HB Land) is paying $142 million for Craigieburn’s Aitken Hill conference centre.
The conference centre includes 6000 square metres of function space and a 124-room hotel surrounded by sporting and leisure facilities – none of which has operated since COVID.
This pocket of Craigieburn, near the Greenvale border, is about a 15 minute drive to Melbourne Airport
The 68.4 hectare facility was formally listed two months ago by PwC Australia as receiver and manager for China based HNA Group, which declared bankruptcy in January.
Biggin & Scott Land’s Andrew Egan and Frank Nagle with CBRE’s Scott Callow and David Minty brokered the deal.