An owner occupier has purchased an attractive freestanding office in one of Melbourne’s most sought-after precincts.
75 Asling Street in Brighton sold for $3,375,000. The commercial zoned 1 property has a floor area of 220sqm on a 696sqm land holding and is located near to the Martin Street Shopping Village. Currently tenanted until December 2018, the property sold on a yield of 3.79%.
The CBRE Melbourne team of Sandro Peluso, Mark Wizel, David Minty, Chao Zhang and Kinson Wong sold the property.
“The property was offered to the market as a flexible opportunity for owner occupiers, investors and developers and we received interest from several parties who all saw its potential,” Mr Peluso said.
“This is the seventh sale CBRE has successfully transacted over the past seven days, highlighting the significant demand from buyers currently in the marketplace looking to secure property prior to the end of the year,” Mr Wizel added.
The CBRE team of Sandro Peluso, Mark Wizel and Bianca Butterworth is also selling another medical investment property at 441 Bay Street, Brighton alongside the team at Hocking Stuart Commercial. The freestanding medical investment on a 1,058sqm landholding has secured income and established tenant Brighton Spinal Group, until 2019 with options to 2027.
Mr Peluso said this is a fantastic opportunity to acquire a prime medical investment underpinned by a secure lease to a longstanding medical investment.
“This rare, classic Victorian property is exceptionally well-maintained and also offers any potential buyers outstanding development potential (STCA),” Mr Peluso said.
The property is for sale via public on-site auction on Friday 1st December, 2017 at 2:30pm.
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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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
