Centrally situated the Richmond/Cremorne office precinct, the three-level building features a net lettable area of circa 8,000sqm and is leased to New York and ASX-listed tenants including the Walt Disney Company, National Australia Bank and the recently secured STA Travel.
The property is tipped to fetch in excess of $80m.
CBRE’s Kiran Pillai said; “The Richmond and Cremorne office precinct has undergone an evolution over the past two to three years and now provides access to world class food and beverage offerings, extensive public transport options and, perhaps most importantly, a growing millennial workforce.
“The presence of global brands such as Tesla, Uber, 7 Eleven and Walt Disney is driving strong demand from new occupier, which has resulted in strong and sustained rental growth over the past two years and further growth forecast.”
Colliers International’s Rob Joyes added; “Building 10 has recently undergone extensive refurbishment works, with the building now presenting as new. Campus style floor plates of circa 2,700sqm provide flexibility for large occupiers as well as the opportunity to sub-divide into multi floor tenancies.”
Mr Joyes noted that approximately $900m in A-Grade office investments were already pre-committed and under construction within a 500metre radius of Building 10.
“This precinct is one of the most sought-after locations in the country for both investors and tenants, which will continue to underpin attractive ongoing rental and capital value growth,” Mr Joyes said.
The International Expressions of Interest campaign will commence on September 2, 2019.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.