This article is from the Australian Property Journal archive
MELBOURNE real estate agents Lemon Baxter have been appointed to take over the management of the 492 St Kilda Road office building.
The 13 level, 9,000 sqm office building is owned by Brisbane based Australian Property Growth Fund.
Completed in 1971, the property was formerly known as John Holland House but is today home to some 44 individual small and medium businesses with a significant car parking capacity.
It was valued at $38 million in the last APGF portfolio valuation undertaken in February 2008 having originally been purchased for $31 million.
The largest building tenant is public company travel services group Webjet.
Lemon Baxter director Michael McClusky said there is a quite small current vacancy factor and with a multi tenant building with a relatively large number of tenants there are always needs to upsize or downscale spaces as tenants require and as business situations dictate.
Australian Property Journal
