This article is from the Australian Property Journal archive
A LOCAL group have picked up a three-level freestanding office building in Caulfield North for $4.825 million as its first medical asset.
Zoned Commercial 1, the 502 sqm site at 73 Kooyong Road in Melbourne’s inner south-east has a 664 sqm building leased to Precision Brain, Spine and Pain Centre. It sold at a land rate of $9,600 per sqm, which selling agents CBRE said trumped the previous local record for a Commercial 1 property of $5,900 per sqm.
Agents Bianca Butterworth, Sandro Peluso, Josh Twelftree and Kinson Wong sold the property on behalf of Richard Bittar, who realised close to 20% in value uplift since purchasing the property just 15 months ago.
“A strong final result fuelled by competitive bidding was no surprise given the substantial levels of enquiry generated over the course of the campaign. The prestigious property proved that high levels of interest within the healthcare sector continue to peak, flowing on from a successful 2017,” the agents said.
Australian Property Journal