This article is from the Australian Property Journal archive
AN office suite within Equitable House in Melbourne’s CBD has sold for $655,000.
Fitzroys agents Stephen Land and Tom Backay sold Suite 907, 343 Little Collins St to a local investor.
The sale price represents a 6.2% net yield.
The 111 sqm space was sold subject to a new three-year term and a three-year option to a Government tenant, returning $50,000 per annum plus GST.
“The suite was originally on the market for sale with vacant possession and produced a solid amount of enquiry from various owner occupiers looking to make the transition from smaller office space and take advantage of the unique working environment with a great CBD view,” Land said.
“Shortly after marketing commenced, a strong government tenant was secured for the premises which turned it into an attractive proposition for investors,” he added.
Backay said the $5,900 per sqm sale represents a strong result within the building.
Australian Property Journal
