Perth, 11 February 2015 – Subiaco continues to be a sought after investment hotspot, with six commercial lots at the recently completed North One development transacting prior to completion.
Developed by Pindan Capital, in conjunction with ISPT, North One Subiaco comprises three upper levels of residential apartments above 17 ground floor commercial and retail strata lots ranging in size from 80sqm – 362sqm in a prominent lead corner location.
North One Subiaco benefits from strategic positioning amidst the Subiaco Train Station, Subiaco Square Shopping Centre and St John of God Hospital Subiaco, providing direct access to generous public car parking options and transport links.
CBRE selling agents Michael Milne and Ben Younger confirmed the sale of six lots to date, with discussions in place for a further three of the sites.
Mr Milne said the properties had already attracted strong buyer interest from investors and business occupiers, including medical groups.
“The core Subiaco precinct remains a highly popular location for commercial, retail and medical buyers, with investment security underpinned by its established strategic location, range of amenities and sustained population growth caused by significant government master planning and infrastructure initiatives,” Mr Milne stated.
“Commercial buyers are clearly taking advantage of current market conditions and sustained low interest rates, with many snapping up prime space through their self-managed super funds.”
According to Mr Younger, North One Subiaco’s prime business address was a clear factor underpinning the recent sales.
“The potential for medical use was an added advantage associated with this offering, with three of these commercial lots having already sold to medical practitioners,” he explained.
“Buyers were also attracted by the generous visitor parking options in addition to contemporary facilities such as the communal rooftop terrace with a residents’ lounge, gymnasium and steam room and for use by all occupants.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
