This article is from the Australian Property Journal archive
AN owner-occupier in the export business has bought an office building at Cremorne in Melbourne’s inner east for $1.02 million.
The 127 Chestnut St property was sold prior to auction by Teska Carson’s Tom Maule and Matthew Feld.
The property comprises a 243 sqm three-level office and four undercover car spaces on a 92 sqm site.
The agents said the marketing campaign attracted a significant level of enquiry particularly from owner-occupiers driven by low interest rates.
Maule said the purchaser, currently located in St Kilda Rd, was attracted by the Cremorne location and its immediate access to the CBD.
He added that Cremorne had become an increasingly tightly held precinct as demand for city fringe office space increased on the back of Melbourne’s strong population growth.
Australian Property Journal
