This article is from the Australian Property Journal archive
THE home of Cremorne’s Sing Sing Recording Studios has sold to a Melbourne-based investor for $4.55 million.
Located at 1-3 & 5-9 Gordon St, the 852 sqm landholding comprises an 852 sqm office/warehouse building with more than 45 metres’ frontage onto Gordon Street.
CBRE’s David Minty, Ed Wright and Jamus Campbell negotiated the transaction on behalf of a private vendor, with the sale price reflecting a land rate of $5,340 per sqm.
Minty said the property attracted strong interest from both local and offshore investors, as well as developers and owner occupiers.
“This early new year sale reflects the continued interest and appetite from buyers to secure development opportunities, and is a great sign for property owners considering selling in 2016,” Minty said.
“With the turbulent share market conditions at present, we expect to see more investors looking to reallocate capital to investment classes that pose less risk, such as real estate.” Wright added.
Australian Property Journal