Spencer St, Melbourne

Formerly the HQ of The Age newspaper, Axiom, together with its joint venture partner, Industry Super Property Trust (ISPT), purchased this strategic site (15,200 sqm) in Melbourne's CBD for $66.1 million in February 2007 for a major commercial and retail redevelopment.

Following the onslaught of the GFC, Axiom divested its half interest to ISPT, following the successful sale of a residential component of the site, representing approximately 20% of the sites area, for $17m.