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RetailStaff WriterTue 21 Jul 15

Local Investor Banks On New Melbourne Laneway Space

1

A local investor has acquired a whole floor office space in the heart of Melbourne’s CBD for $1.32 million.

 

The 280sqm space, located at Level 3, 4 – 10 Bank Place, features a comprehensive fitout, ample natural light, and a prime location underpinned by premium retail, hospitality and transportation amenities.

Tim Last, Thomas Tuxworth and Nick Lower of CBRE negotiated the sale on behalf of the private owner occupier via a public Expressions of Interest campaign.

Mr Last said the current demand for well-located office space, particularly in the Melbourne CBD’s historic and established laneways, made the sales campaign incredibly competitive - with over 105 enquiries being extracted from the market.

“Over the past 12 months a 25 per cent uplift in value within the strata office market has been identified, with this sale further demonstrating how demand is continually outweighing supply in the CBD.”

Mr Tuxworth added; “We are currently seeing an increase in local investors looking to diversify their property portfolios in Melbourne and take advantage of the high yields that strata office is able to return.”

RetailOfficeAustraliaReal EstateSector
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"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
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Article originally posted at: https://www.theurbandeveloper.com/articles/local-investor-banks-new-melnbourne-laneway-space