Perth, 14 October 2015 – Subiaco continues to be a sought after investment hotspot, with the seventh commercial lot at the recently completed North One, Subi Centro development transacting for $1.175 million.
A Perth-based dentist has acquired a 132sqm suite at the North One, which is located at 9 Salvado Road.
Developed by Pindan Capital, in conjunction with ISPT, North One, Subi Centro comprises four upper levels of residential apartments above 17 ground floor commercial and retail strata lots ranging in size from 50sqm – 362sqm.
North One benefits from a prominent corner location, in direct proximity to the Subiaco train station, Subiaco Square Shopping Centre and St John of God Hospital.
CBRE’s Ben Younger said the property’s location was a key factor underpinning the sale.
“The purchaser was attracted to North One’s central location, which is easily identifiable and accessible for its patients,” Mr Younger explained.
“In addition, the core Subiaco precinct remains a highly popular location for commercial, retail and medical buyers, with investment security underpinned by its established strategic position, range of amenities and sustained population growth caused by significant government master planning and infrastructure initiatives.”
The property’s new owner, Kang Kim, said Subiaco’s reputation as a well-regarded medical precinct was instrumental in the sale.
“Being located in a reputable medical hub was a key priority for my business, with this Subiaco premises supporting my existing clientele and also helping tap into new markets,” Mr Kim said.
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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 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.