This article is from the Australian Property Journal archive
A FIVE-storey office building in Melbourne's city fringe suburb of Carlton has been sold to a private developer.
Located at 23-31 Lincoln Square South, Carlton, the five-storey building comprises 3,745 sqm of space set on a 907 sqm Capital City Zone site.
The property overlooks the Lincoln Square Park and is only 500 metres from the CBD grid.
Allard Shelton’s Joseph Walton and Patrick Barnes handled the sale.
The price was undisclosed.
In comparison, a similar property at 21-25 Bouverie St Carlton, just 350 metres away, sold in September for $11.4 million, representing a land rate of $13,850 per sqm. The three-storey building comprises 2,247 sqm of space on a 823 sqm site and it was sold by Vinci Carbone’s Joseph Carbone and Frank Vinci.
Last month, the Corkman Irish Pub at 154-160 Leicester St, was sold by CBRE for $4.76 million – $1.56 million above the reserve price. The two-storey pub sits on a 456 sqm site.
Australian Property Journal
