North Sydney based firm, Peter Berry Consultancy, has purchased a top floor office on the highly sought after Little Collins Street.
CBRE’s Tom Tuxworth, Tim Last and Liam Gostencnik negotiated the sale of the 72 sqm office at 303 & 304/430 Little Collins Street on behalf of a private owner. It sold two weeks prior to the close of the campaign at a building rate of $9,583 per square metre.
Mr Last said the buyer, who was looking to expand the business to Melbourne, was eager to purchase the office as an owner occupier due to the relatively attractive building rates in comparison to Sydney.
“As building rates in the Sydney CBD continue to achieve between $11,000 and $13,000 per square metre, Melbourne CBD building rates – albeit strong rates – appear considerably more attractive to businesses from Sydney looking to become owner occupiers,” Mr Last said.
Mr Gostencnik added that the opportunity to occupy the office immediately due to its vacant possession and full fit out, plus the abundance of retail amenity and transport links surrounding the building, were major drawcards for prospective purchasers.
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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.
