A prime city-fringe office building is coming to market, with the opportunity expected to attract interest from owner-occupiers, investors and also developers.
Currently owner-occupied by Netball Victoria, the two-level building has the benefit of 10 secure basement car spaces. The building is positioned on the cusp of the CBD, just 150m* from Flagstaff Gardens and a short walk to Queen Victoria Market and all of the amenity of the CBD.
The property is being sold by Savills agents Jesse Radisich, Nick Peden, Clinton Baxter and Benson Zhou, who have been engaged by Netball Victoria with Charter Keck Cramer acting as the transaction manager. Interest of at least $4.75m is anticipated.
Following 23 years of occupation, Netball Victoria is relocating to the State Netball & Hockey Centre in Parkville, which is expected to be completed early-mid 2021. Given this timeframe, flexible settlement terms will be on offer for prospective purchasers.
Jesse Radisich said that “The opportunity will undoubtedly be highly sought after by owner-occupiers and investors who have been starved of city-fringe opportunities to purchase within this price range. We also expect developers to take note of the opportunity given the prime landholding with rear access, and significant potential within the proposed West Melbourne Structure Plan”.
Nick Peden said that “The building presents extremely well throughout, and is ready for immediate occupation from prospective occupiers or tenants.”
The property is For Sale by Expressions of Interest closing 2pm Wednesday 1 April.
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