A Moonee Ponds shopping centre on nearly half an acre of land has been snapped up by a Chinese investor the day before a scheduled auction.
Private investor George Saade listed Phillips Arcade at 31-43 Puckle Street, last month.
It was set to be auctioned today.
The double-storey complex contains 1388 square metres of area, configured with 14 ground floor shops and a large upstairs office.
Phillips Arcade occupies an 1887 …