Strata office deals are setting new benchmark prices as investors opt to look for long-term capital growth in higher yielding bricks and mortar, and also benefit from an anticipated improvement in the leasing market.
Developer Neometro has snapped up a Fitzroy showroom, paying more than $9.3 million for a key development site in the heart of Nojo - north of Johnston Street.
The buyer of the former Hawksburn primary school is understood to be an owner-occupier who will take over the premises when Leonard Joel’s lease expires.
Architect to sell Melbourne apartment for $4m
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Architect and long-term apartment dweller John Denton has put his 183-185 Flinders Lane penthouse up for sale with an asking price of $4 million-plus – about four times what it cost him and partner Morry Schwartz to buy the building in 1991.
Mr Denton – whose firm Denton Corker Marshall designed a string of the country’s most prominent buildings, including Melbourne’s 101 Collins Street, Sydney’s Governor Phillip Tower and Brisbane Square – and his artist wife Susan Cohn are downsizing from the 346sq m full-floor apartment they have lived in for the past three decades.