This article is from the Australian Property Journal archive
A PRIVATE investor has snapped up an office suite in Malvern, beating strong interest from rival investors and owner occupiers.
Fitzroys agents Jordan Ceppi and David Bourke sold the Suite 10, 1 Milton Parade Malvern property for $1.061 million.
The versatile 170sqm suite comprises partitioned offices, an open-plan workstation area and staff amenities, and includes seven basement parking spaces.
Ceppi said the campaign for the vacant office suite generate more than 60 enquiries from investors and owner occupiers, leading to a strong sales result that reflected a building rate of $6,250 per sqm.
“Melbourne’s inner-suburban office market has been a consistently strong performer, as businesses look to capture a growing generation of workers who desire to live and work across the inner suburbs,” Ceppi said. “There is a growing appetite for similar style office space of this size within the area and throughout Stonnington. We saw a notable depth of enquiry throughout the campaign, as investors and owner occupiers sought to capitalise on a rare opportunity to acquire a premium office boasting excellent connectivity.”
