A local business owner has purchased 160sqm of flexible top floor space in the Aurora tower on Adelaide’s Pirie Street for $950,000 ($5,937/sqm).
CBRE’s Ned Looker and Rhyce Scott negotiated the sale of Suite 1203, 147 Pirie Street on behalf of the vendor, a private local investor.
Mr Looker said that Suite 1203’s new owner made an unconditional and quick offer, looking to occupy the premises.
“We put two suites in this building under contract within one week, highlighting the current demand from local owner-occupiers for small to medium office spaces,” Mr Looker commented.
Mr Scott noted the team had seen a shift in the confidence of small businesses following the federal election, with many past enquiries from small businesses being revisited.
“The office leasing market continues to boom across the AA-Premium and A-Grade spaces, pushing some local firms to consider buying opportunities,” Mr Scott said.
The property, which features premium building amenities, including a shared roof top,
function areas and pool facilities, sold with two car bays in the undercroft car parking lot, returning an additional circa $850 net per month.
The current lease expires in June 2019, with a one-year option currently returning around $76,123.15 per annum.
CBRE’s Ned Looker and Rhyce Scott negotiated the sale of Suite 1203, 147 Pirie Street on behalf of the vendor, a private local investor.
Mr Looker said that Suite 1203’s new owner made an unconditional and quick offer, looking to occupy the premises.
“We put two suites in this building under contract within one week, highlighting the current demand from local owner-occupiers for small to medium office spaces,” Mr Looker commented.
Mr Scott noted the team had seen a shift in the confidence of small businesses following the federal election, with many past enquiries from small businesses being revisited.
“The office leasing market continues to boom across the AA-Premium and A-Grade spaces, pushing some local firms to consider buying opportunities,” Mr Scott said.
The property, which features premium building amenities, including a shared roof top,
function areas and pool facilities, sold with two car bays in the undercroft car parking lot, returning an additional circa $850 net per month.
The current lease expires in June 2019, with a one-year option currently returning around $76,123.15 per annum.
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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.
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.
