Citipower spends $23m plus to owner-occupy prime Fishermans Bend site

By Marc Pallisco
Updated February 24 2017 - 2:28pm, first published 1:27pm
The Johnson Street, South Melbourne, property owned by Michael Donovan that attracts a rent upwards of $1 million a year - thanks in large part to Matthew Guy's 2012 rezoning of the area.  Photo: Simon O'Dwyer
The Johnson Street, South Melbourne, property owned by Michael Donovan that attracts a rent upwards of $1 million a year - thanks in large part to Matthew Guy's 2012 rezoning of the area. Photo: Simon O'Dwyer
Damien Gance from Chemist Warehouse at their Preston outlet. Photo: jmarlow@oculi.com.au
Damien Gance from Chemist Warehouse at their Preston outlet. Photo: jmarlow@oculi.com.au

Citipower has paid commercial real estate agent Michael Donovan more than $23 million for a South Melbourne sub-station the electricity supplier has leased since 1965.

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