Bensons Property Group has finalised the purchase of a prime Docklands site days after emerging from voluntary administration.
The Melbourne-based developer secured the 4509sq m site at 194-204 Lorimer Street from Samma Property Group for what industry sources suggest was “just over $20 million”.
The acquisition is the company’s first major move since exiting administration on February 20.
It entered the process in December of 2024 with debts totalling $812 million.
The property, acquired by Samma Property Group from Development Victoria for $22.5 million in late 2021, comes with planning approval for a residential tower.
Samma’s $250-million plan for a 31-storey tower comprising 402 build-to-rent apartments approved in 2023 was due…
