This article is from the Australian Property Journal archive
A 15,962 sqm office and warehouse building in Melbourne’s south-eastern suburb of Moorabbin has been picked up by a private investor for $14.75 million.
Crabtree’s Chris McKenzie and Grant Tishler negotiated the sale of 45-55 Fairchild Street within the Parkview Estate.
Zoned Commercial 2, the building on a 28,890 sqm site, and sold with a new five-year lease to international publisher Hinkler Books, returning $1,098,972 per annum net.
Tishler said this was “undoubtedly one of the largest transactions seen in Moorabbin of recent times”.
“Being located within the Parkview Estate in amongst major corporate players such as Electroclux, Bolle, Crabtree & Evelyn, Linen House and Moran living, it is a solid investment with long-term upside.”
Parkview Estate was developed and is predominantly owned by Pellicano Group.
Australian Property Journal
