An interstate-based investor has acquired the 550sqm standalone building at 422-428 Queen Street in Melbourne’s CBD for $5.5 million, reinforcing the demand for quality CBD assets.
Fitzroys’ Rob Harrington and Louis Christou of Christou & Co negotiated the sale, with the price tag reflecting a building rate of around $10,000 per sqm.
The property is on a 236 sqm peninsula site, comprising a ground floor café and level one office space.
The agents said the site offered long-term investment and development potential, owing to its position opposite the iconic Queen Victoria Market and three street frontages, including Franklin Street.
A unique opportunity to purchase 8 individual titles in one will be offered via auction by Beller Commercial.
The impressive block of apartments, at 184 Sycamore Street, Caulfield South, sit on approximately 625sqm and are currently returning $104,000 (approx.) in rental income per annum.
One car space per apartment is attached in a property located close to Hawthorn and Glen Huntly road trams, Glen Huntly Train Station and shopping.
Refurbished and ready for growth according to the agents, the block will go under the hammer onsite on Thursday, 26th October at 12pm.
Colliers International will offer a huge 5.15 hectare development site at 100 Learmonth Street, Alfredton in Victoria by expressions of interest.
The Ballarat supersite, zoned Industrial 3, has a 135 metre frontage on the high exposure Learmonth Street and according to agents, has links to residential growth and is ideal for commercial or industrial property or subdivision.
Expressions of interest will close on Friday, 3rd November at 3pm.