La Trobe Street Office Scooped Up

 A funds manager has purchased an entire office floor on La Trobe Street in Melbourne's CBD for $2.05 million.

CBRE’s Nick Lower, Tom Tuxworth and Tim Last negotiated the sale of the 414sqm office property at 171 La Trobe Street on behalf of vendor SGA Property Consultants.

Transacting at a rate of $4,952 per square metre, the property’s sale represented a record price for the building.

Mr Lower said the outstanding sale result was evidence of the strength of tenant demand for strata properties.

“The strata market continues to go from strength to strength, with increasing demand from businesses to own their own office space,” he said.

“The property drew interest from a range of buyers including offshore investors, local developers, owner occupiers and a range of Melbourne-based companies.”