This article is from the Australian Property Journal archive
AN ACCOUNTANCY firm has paid $1.615 million for an office building at Cremorne in Melbourne's inner east.
Teska Carson’s Matthew Feld and Michael Ludski sold the property located at 47 Stephenson St via auction.
The three-level office building comprises 410 sqm of space on a 165 sqm site.
The agents said the property drew strong interest from several purchasers with the under bidder also an owner-occupier.
“This was a unique property which drew interest from a group of mainly owner-occupiers attracted to the high standard fit-out, open-plan layout, city views, and its close proximity to the CBD.
“The fact that the property is situated in the heart of Cremorne and within easy reach of public transport, freeways and all the recreational and retail amenities neighbouring Richmond has to offer, was also an important element,” Feld said.
He added the property also attracted investors who were aware of the tightly held nature of the precinct with very few vacancies.
Property Review
