Melbourne, 24 June 2014- CBRE Strata Projects team has sold three strata offices at 517-535 Flinders Lane in just one week.
Tom Tuxworth, Chris Pharr and Ed Wright from CBRE sold all three properties on behalf of Sullivan Property for a combined total of $2.435 million.
Set within a boutique four level office building located between King and Spencer Street, suite 107consisted of a 100sqm office sold for $620,000 reflecting a rate per square metre of $6,200.
Suite 110 is a 190sqm first floor office overlooking Flinders Lane. The property sold for $950,000 to an existing owner occupier within the building. This equates to $5,000 per sqm for the un-refurbished office space.
Suite 405 comprises 173sqm of fourth floor office space and sold for $865,000. It was sold with a short term lease tail due to lack of other available stock. The local owner occupier purchased the office through their self-managed super fund.
Mr Tuxworth said; “enquiry has been strong for strata offices with people citing the low interest rate environment as a key reason they would prefer to purchase rather than lease.”
“A number of business owners are now realising how beneficial it is to purchase within their self-managed super funds to take advantage of the associated tax benefits,” added Mr Pharr.
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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 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 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.