Swan Institute Australia swoops on Perth office block

Education and training provider Swan Institute Australia has recently acquired commercial offices in East Perth for $6.55 million.

Located at 3 Bennett Street in the CBD, the 1,700sqm property has five floors plus 18 basement car-parking bays.

CBRE’s Michael Milne and Visionre Real Estate’s Philip Lin negotiated the sale on behalf of multiple seller interests.

Mr Milne said the sale demonstrated an increasing trend for owner-occupier groups to be looking at purchase options rather than leasing.

“The increased supply of commercial properties coupled with low interest rates is driving businesses such as Swan Institute Australia to purchase offices outright.”

“The property offered a range of features suited to the buyers needs and is ideally located in Perth CBD,” Mr Milne said.

The building was previously tenanted by SAE Group, a subsidiary of Navitas, who will vacate to make way for the new buyer.