Melbourne, 12 August 2015 – One of Queensland’s largest developers, the Pask Group, has snapped up the final whole floor space in the award winning 41X development.
Located at Level 7, 41 Exhibition Street, the 280sqm space is part of the 22 level 41X development that was completed in 2012. The building is Melbourne’s only purpose built strata office to be developed in the past 10 years and was designed by award winning architects Lyon Architects - with a goal to become a benchmark in sustainability. The building features premium end of trip facilities including bike storage, ample natural light and sustainable innovations contributing to a 5 Star Green Star rating and carbon neutral status.
The 41X development was originally sold off the plan by the CBRE Strata Projects team to a number of high profile businesses, including Southerbys, Landream, GPG Group, Hickory Group and the Royal Australian Institute of Architects, which currently occupy the first five floors as its Victorian headquarters.
CBRE’s Tom Tuxworth, Nick Lower and Tim Last negotiated the sale on behalf of The Royal Australian Institute of Architects via a public Expressions of Interest campaign.
Mr Lower said the building’s unique design features and east-end location contributed to a competitive sales campaign with strong demand from both local and international parties.
“In addition to a number of offshore groups looking for a Melbourne headquarters, the campaign received a record number of local enquiries. This is a strong indication of the increasing demand from local owner occupiers and investors to secure well-located Melbourne CBD sites.”
“Local and offshore investors are targeting the strata office market to diversify their portfolios and enjoy the benefits of the 7%-8% yields strata office floors typically return,” Mr Lower said.
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