Melbourne, 29 June 2015 – A Federal Government occupied office and repository complex which forms part of the Tally Ho Business Park in Burwood East is being offered for sale, unlocking a premium investment opportunity in one of Melbourne’s most sought after commercial hubs.
Located at 31 Vision Drive, the 1.18 hectare site comprises a three level commercial building totaling 6,389sqm of lettable space, which is currently utilised as an Archive Repository complex.
Occupied by the Commonwealth Government of Australia since the building’s construction in 1994, the current lease extends to 2019, with one five-year option available.
CBRE’s Justin Clarkson, Andrew Stewart and Jamus Campbell have been appointed to sell the property on behalf of a private investor.
Mr Clarkson said the property represented an outstanding investment opportunity that was likely to attract a strong pool of buyer interest.
“Securely leased to the Federal Government and located in suburban Melbourne’s preeminent office park, this is an outstanding opportunity to acquire a securely leased investment with premium market fundamentals,” Mr Clarkson said.
“With a guaranteed income stream, this government backed investment is expected to attract strong interest from both local and offshore parties.”
Mr Clarkson said the property also benefitted from strong underlying land value, which could support future development.
“The property’s commercial 1 zoning lends itself to a range of alternative uses, including residential development (STCA), further strengthening the land value and underpinning the quality of the asset,” Mr Clarkson explained.
“Furthermore, the property benefits from a strategic position in Melbourne’s sought after and highly affluent inner-eastern suburb of Burwood East, within the well-known Tally Ho Business Park to the north and residential to the west and south.”
Located approximately 18km east of the Melbourne CBD, Burwood East site is located in close proximity to Citylink and Eastlink, as well as major arterials connecting the area to the city.
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