Melbourne, 27 April 2016 – The Property Advisory has snapped up a premium leased industrial facility within the proposed Uni Central Business Hub in Notting Hill for $4.1 million.
Located in Melbourne’s south-east, the property at 53 Duerdin Street is a yet to be constructed 1,300sqm high tech facility featuring a high quality office fit out, ancillary warehouse and 37 car spaces.
The property, which was sold on an initial yield of 7.6%, benefits from an attractive tenancy profile, with Strikeforce AMC Pty Ltd signing a six-year lease term.
CBRE’s Rory Hilton and Chris O’Brien negotiated the sale on behalf of private developer Bryson via an Expressions of Interest campaign.
Mr Hilton said the property’s position in an established commercial precinct was a key selling factor.
“Strategically situated within the heart of the Monash Technology Park, this property offered an outstanding opportunity to acquire a premium asset in one of Melbourne’s most highly regarded precincts,” Mr Hilton said.
“With the security of a six-year lease to a high calibre national tenant, the property’s attractive investment fundamentals generated interest from a wide pool of buyers including local and interstate parties.”
The property is located approximately 21 kilometres from the Melbourne CBD with immediate access to Blackburn Road, Monash Freeway, Wellington Road and the Princes Highway.
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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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.