This article is from the Australian Property Journal archive
AN office suite at 703/10-11 Yarra St in the Forrest Hills office and commercial precinct adjacent to South Yarra railway station has been purchased by a local private investor for $655,000.
Gray Johnson agent Rory White negotiated the sale of Suite 703, which has an area of 81 sqm plus an outdoor terrace area of a further 4 sqm. It is newly leased to Nimble Australia, on a new lease from June 01 for a three-year term, with a further a three year option, at a commencing annual rental of $38,000 plus GST.
The lease also includes three basement parking spaces. Two of these are included in the lease while the third space is leased to another building occupier at an annual cost of $3,600 which rental also accrues to the private investor purchaser.
White said the sale price is indicative of $8,000 per sqm of building area, which is a very strong result.
Property Review
