This article is from the Australian Property Journal archive
A LOCAL private party has acquired an imposing corner property in North Melbourne for $15.31 million from an international not-for-profit group.
The 1,957 sqm site at 552 Victoria Street, at the junction of King, Victoria and Curzon Streets, has freehold office building of 2,765 sqm and 37 on-site parking spaces.
Zoned Mixed Use, it was offered with a short-term leaseback opportunity and transacted at a passing yield of 2.3%.
Selling agents Andrew Hansen and George Burbury of Knight Frank said more than 160 enquiries were received for the property.
It has a 3-star NABERS energy rating and is positioned close to the new Arden Station site, part of the Metro Rail project, and the Arden-Macaulay urban renewal precinct.
Australian Property Journal
