Perth, 10 March 2015 – Prominent local education and training provider Swan Institute Australia has recently acquired commercial offices in East Perth for $6.55million.
Located at 3 Bennett Street, the site spans approximately 1,700sqm over five floors plus 18 basement car parking bays. The property benefits from prime CBD location with preferred south facing aspect, substantial fit out ready for immediate occupation and on-site secure parking.
CBRE’s Michael Milne and Visionre Real Estate’s Philip Lin negotiated the sale on behalf of multiple seller interests.
CBRE initially marketed only the top floor for sale, however, Swan Institute Australia showed interest in the property as a whole, acquiring all five floors except a small strata lot on the ground floor for relocation and expansion purposes.
Mr Milne said the sale demonstrated an increasing trend for owner occupier groups to be looking at purchase options rather than leasing.
“The increased supply of commercial properties coupled with low interest rates is driving businesses such as Swan Institute Australia to purchase offices outright.”
“The property offered a range of features suited to the buyers needs and is ideally located in Perth CBD,” Mr Milne said.
The building was previously tenanted by SAE Group, a subsidiary of Navitas, who will vacate to make way for the new buyer.
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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 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 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 at www.cbre.com.