Suite of Strata City Offices Changes Hands
Several strata office assets in the eastern end of Melbourne’s CBD have been sold in quick succession.
On the corner of Spring Street, within Alcaston House at 2 Collins Street, an owners corporation managed by Fitzroys, the Cannon family sold the 91sqm level 1 office for $1.46 million, while the 122sqm basement sold for $1.325 million to doctors Elias Sleaby and David Roufael, who own the adjoining Collins GP practice. At 100 Flinders Street, the 317sqm vacant strata office floor on level 2 sold for $3.8 million.
Meanwhile, Hodgson Partners paid $4.75 million for the 245sqm 3rd floor office within ACCI House at 55 Exhibition Street, at $19,388/sqm. The building is close to the 57-level 101 Collins Street tower, owned by the Commonwealth Superannuation Corporation.
Hodgson Partners recently bought the nearby 6-level 45 Exhibition Street office building, on a 344sqm site, for $27.52 million, which updated property title documents show is now held by the CSC.
Zagames Pick Up Swinburne HQ
Melbourne’s popular suburban office market has witnessed another major deal. The Zagame family bought 2 Luton Lane in Hawthorn, recently entirely leased to Swinburne University, for $55 million at a 5.3% yield from Sydney-based firms Trumen Corp and Bricktop Group.
The 4-level building of 5,660sqm has campus-style floor plates and is near the corner of Burwood and Glenferrie Roads, and is used by Swinburne as its head offices.
Salta Properties recently sold the distinctive 6,000sqm Dulux headquarters building in Clayton to a high-net-worth Hong Kong investor for $30 million at a circa-6% yield.
Disclosure: The weekly Fitzroys Property Wrap is for information only on transactions in the Melbourne property market. Fitzroys provides this information as a public service. We are not purporting that all sales and leases within this report were transacted by Fitzroys. Terms/Privacy © Copyright 2019 Fitzroys.