Melbourne, 16 February 2014 – A boutique office property in Melbourne’s south-east will go to auction next month in a move tipped to attract significant investor interest.
Located at 47a Wangara Road, Cheltenham, the two-level building comprises 1,620 square metres of net lettable area and 36 onsite car spaces. The property is securely leased to two tenants on three year and five year terms.
CBRE’s Justin Clarkson, Jamus Campbell and Josh Rutman have been appointed exclusive marketing agents.
Mr Campbell said the property represented an attractive investment opportunity.
“Being securely leased for $360,000 per annum (net) to tenants of exceptional quality, the price point will appeal to self-managed super funds,” Mr Campbell said.
“This securely leased property also holds a number of value add opportunities including splitting the tenancies.”
Cheltenham is located approximately 19 kilometres south-east of Melbourne CBD.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.