Melbourne, 17 December 2013-A Melbourne finance company has acquired one of the last remaining suites in the landmark 140 East development on Bourke Street.
A local owner-occupier purchased the 280sqm site with vacant possession from vendor Drapac for $1.25 million. The sale, which comes one week after Burgess Rawson purchased level seven of the building, leaves the tower 98% sold, with just one suite remaining.
CBRE’s Tom Tuxworth, who negotiated the sale in conjunction with fellow agents Ed Wright and Chris Pharr, said the property’s location was a key selling factor.
“This suite is ideally situated with the iconic former Hoyts Cinema office tower, and located at the top end of Melbourne’s East End, which is home to several blue-chip office buildings, luxury international retailers, high-end hotels and renowned restaurants,” Mr Tuxworth said.
“The Virgin Active health and fitness club located on the ground level of 140 Bourke Street was also a drawcard.”
Mr Tuxworth said the majority of 140 East property owners were buying within their self-managed super funds to take advantage of the associated tax benefits.
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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 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 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 atwww.cbre.com.au.