The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Interested in a Corporate TUD+ Membership? Access premium content, site tours, event discounts and networking opportunities
Interested in a Corporate Membership? Access exclusive member benefits today
Enquire NowEnquire
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OfficeStaff WriterThu 26 Mar 15

Tally Ho Business Park Chalks Up Another Sale

1

A private Malaysian investor has acquired a Burwood East office building for $6.8 million amidst a flurry of activity which has seen almost half the buildings in the Tally Ho Business Park change hands in the past two years.

MP Burke Commercial directors Pat Burke and Michael Pound have sold 6 Lakeside Drive on a yield of 6.86 per cent alongside Colliers International’s Peter Bremner.

The two-level 1,526sqm office building, which is 100 per cent leased to the Melbourne East General Practise Network Ltd, is situated on a 3,367sqm site fronting both Lakeside Drive and Burwood Highway and offered with 51 car parks.

It is the seventh of 15 office buildings to have sold within Tally Ho Business Park in the last two years.

“These sales have totalled $63 million with yields ranging from 6.85 per cent to 9 per cent, dependent on lease profile,” Mr Bremner said.

“The majority of buyers have been local private investors and Colliers International has negotiated three of these recent sales.

“This modern, freestanding building at 6 Lakeside Drive represented a prime investment located in a well-established corporate park in Melbourne’s sought after inner east.”

Mr Burke said 6 Lakeside Drive was an ideal investment opportunity, particularly given the attractive long term lease to a market leading company within one of Australia’s fastest growing industries, health.

Mr Pound said Burwood East was a location of choice for companies leading the way in telecommunications, multimedia, health and information technology.

Additional recent sales within Tally Ho Business Park have included:

  • 378 Burwood Highway: Sold for $7.9 million in August 2014

  • 5 Lakeside Drive: Sold for $13,025,000 in October 2013

  • 20 Lakeside Drive: Sold for $7.14 million in May 2014

  • 10 Wesley Court: Sold for $13,025,000 in October 2013

  • 9 Lakeside Drive: Sold for $3.3 million in January 2015

  • 12 Lakeside Drive: Sold for $16 million in April 2013

OfficeAustraliaReal EstateSector
AUTHOR
Staff Writer
"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. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
Exclusive

Watchdog’s Court Loss Throws Spotlight on Union Balancing Act

Clare Burnett
6 Min
Time and Place's The Queensbridge Building at 90 Queens Bridge Street in Melbourne's Southbank.
Exclusive

Innovation Keeps Time & Place’s Southbank Skyscraper Rising

Marisa Wikramanayake
6 Min
Breathe Architecture founder Jeremy McLeod in front of his Featherweight Home design
Exclusive

Nightingale Founder’s Bid for Affordable Architectural Kit Homes

Leon Della Bosca
7 Min
View All >
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
Novus on Victoria Chatswood
Build-to-Rent

Novus Plots Second BtR Tower for Chatswood

Renee McKeown
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
The proposal for the gene therapy precinct at Westmead comes as sector investment continues to ramp up…
LATEST
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
3 Min
Novus on Victoria Chatswood
Build-to-Rent

Novus Plots Second BtR Tower for Chatswood

Renee McKeown
2 Min
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
3 Min
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/tally-ho-business-park-6-lakeside-drive