This article is from the Australian Property Journal archive
AGENTS representative body, the Real Estate Institute of Victoria (REIV) has chosen a new building in the inner Melbourne suburb of Abbotsford as its new headquarters, having spent the past 40 years in Camberwell.
The REIV paid $10 million for the 1,658 sqm building at 617 Victoria Street – having a few months ago sold its long-term home at 335 Camberwell Road in the inner east for around $26.5 million.
Located about three kilometres from the CBD, the Victoria Street building is 200 metres from Victoria Gardens Shopping Centre and features a modern multi-level office space with 52 car parks and close to public transport.
Settlement for the property is scheduled for late June, after which a contemporary interior fit-out will be commissioned by the REIV.
“Relocating our corporate office will signify a new and exciting chapter for the REIV and importantly enable myriad benefits for our employees and members,” said REIV president Jacob Caine.
“The new premises will create a more engaging environment for training and development and offer a tremendous space to run events and welcome visitors. We will also ensure REIV’s new home is equipped with cutting-edge technology so we can improve our communication and engagement with all our stakeholders.”
Megan Mander, interim CEO of the REIV, said that being located close to the CBD is “important for the REIV, as it allows members from all parts of the state to access our headquarters with greater ease”.
Gorman Allard Shelton agents Joseph Walton and Peter Bremner negotiated the deal. Walton 617 Victoria Street offered a “once-in-a-generation opening for the REIV”.
“Sitting within a highly popular precinct of Melbourne’s inner north, this property offers great connectivity to the CBD and inner suburbs.”
Bremner described the building as “low-maintenance that will service the needs of the REIV and its members for many years to come”.
A little close to the city in Abbotsford, the James Richardson Group has listed the historic Schweppes’ cordial factory in Abbotsford for sale for the first time in 50 years, offering the largest mixed-use parcel in the suburb. The two-level 5,728 sqm building was built by Jacob Schweppe in circa 1886 on a 3,098 sqm site. Expressions of interest close on Friday.
Last year, the suburb’s former Kodak building and Carlton & United Breweries headquarters sold for $19 million to Howzit My China Pty Ltd., wtih plans to utilise the property as a self-storage facility.
