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  • Two strata offices sold in renowned Melbourne building

Two strata offices sold in renowned Melbourne building

13 August 2014
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Melbourne, 13 August 2014- An offshore lawyer has purchased two suites in the renowned 2 Queen Street strata office building, only 10 days after they went on the market.

The second floor suites total 110sqm and were sold with vacant possession for $695,000.

Chris Pharr, Tom Tuxworth and Ed Wright from CBRE Strata Projects marketed the property on behalf of a private investor.

Mr Pharr said CBRE received unprecedented enquiry from both local and offshore groups as a result of the property’s great location and iconic building design.

“Buyers want to take full advantage of the low interest rate environment which is the lowest in 55 years,” he added.

“This sale was the second in as many months at 2 Queen Street, with CBRE City Sales also selling shops 3A & 3B to a local investor on a yield of 4.7% and a rate per square metre of over $21,000,” Mr Tuxworth 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 (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 at www.cbre.com.au.
 

 

 

 

 

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