Subiaco’s strata office market has gained pace in the first two months of 2017, with three suites at the North One development snapped up by owner occupiers for more than $2.3 million.
The North One development is a quality mixed use development comprising 17 ground floor commercial suites in a vibrant high amenity location.
Located adjacent to Subiaco Square Shopping Centre and directly opposite the St John of God Hospital, the precinct is occupied by several medical operators including Southern Cross Orthopaedic Group, Salvado Road Dental Centre Subiaco, Core Vision, Subiaco Psychology, Baolin Acupuncture & Chinese Medicine Centre, The Studio, Physiotherapy & Clinical Pilates and Vascular Solutions.
CBRE’s Kate Foley negotiated the three most recent sales on behalf of the developer Pindan Capital in conjunction with ISPT.
Engineering consultant Oceanis International secured Suite 14 whilst adjoining Suites 7 & 8 were acquired by an owner occupier gynaecologic oncologist.
The most recent sales leave four suites remaining – ranging from 76sqm to 127sqm.
Ms Foley said the transactions highlighted growing confidence in the market.
“Over the past three months, we have received increased activity on strata commercial properties, with opportunistic buyers taking advantage of reduced pricing and sustained low interest rates - and many acquiring space through their self-managed super funds,” Ms Foley said.
The North One development is a quality mixed use development comprising 17 ground floor commercial suites in a vibrant high amenity location.
Located adjacent to Subiaco Square Shopping Centre and directly opposite the St John of God Hospital, the precinct is occupied by several medical operators including Southern Cross Orthopaedic Group, Salvado Road Dental Centre Subiaco, Core Vision, Subiaco Psychology, Baolin Acupuncture & Chinese Medicine Centre, The Studio, Physiotherapy & Clinical Pilates and Vascular Solutions.
CBRE’s Kate Foley negotiated the three most recent sales on behalf of the developer Pindan Capital in conjunction with ISPT.
Engineering consultant Oceanis International secured Suite 14 whilst adjoining Suites 7 & 8 were acquired by an owner occupier gynaecologic oncologist.
The most recent sales leave four suites remaining – ranging from 76sqm to 127sqm.
Ms Foley said the transactions highlighted growing confidence in the market.
“Over the past three months, we have received increased activity on strata commercial properties, with opportunistic buyers taking advantage of reduced pricing and sustained low interest rates - and many acquiring space through their self-managed super funds,” Ms Foley said.
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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.
