A major commercial offering at Burnley for sale in a move tipped to generate interest from high profile owner occupiers, major commercial developers and land bankers. CBRE Melbourne City Sales and Development Sites team David Minty, Nathan Mufale, Alex Brierley and JJ Heng have been appointment to market the 182-184 Stawell Street Burnley for sale.

CBRE’s Melbourne City Sales and Development Sites team have been appointment to market the 182-184 Stawell Street, Burnley property.

CBRE’s David Minty, Nathan Mufale, Alex Brierley and JJ Heng will steer the sale campaign for the property which is being sold with over $400,000p.a income.

The 2,332sqm, dual-frontage landholding is positioned on the northern side of Melbourne’s Yarra River to neighbouring suburb Toorak.

The property features a two (2) level office building comprising 1,750sqm* NLA with 40 car spaces.

Well known businesses such as BioRevive, listed international wind turbine manufacturer Suzlon, and IT food mobile payment company We Are Digital occupy the building.

“We expect the campaign to generate interest from investor but also businesses wanting to secure and occupy their own office building noting the flexible lease structure in place.

“Owner/occupiers are incredibly active in the marketplace at present taking advantage of historically low interest rates making it often cheaper on an annual basis to service a mortgage over renting.

Mr Minty added that a lack of purchasing opportunity for well-located substantial 2.000sqm plus landholdings has led to a marked increase in land prices for commercial zoned land in Melbourne’s inner-city markets.

“Four to five years ago, land prices in Cremorne were around the $4,000/sqm mark, however we’re now consistently achieving rates of $12,000/sqm to $13,000/sqm. This is having a flow on affect in surrounding precincts such as Richmond and Burnley.” Mr Minty said.

CBRE’s Mr Mufale noted that, “the offering comprises attractive existing improvements suitable for owner occupiers and value add investors. The space is perfect for an owner occupiers new head office, or the astute investors inner-suburban portfolio. There are very limited offerings in the area that cater to over 40 car spaces and benefit from terrific access/egress via Citylink and across to Toorak or northern suburbs via Burnley Street.”

“Purchasers will benefit from stunning view aspects of the Yarra River, South Yarra, Toorak and the Melbourne CBD from respective height levels.” Mr Mufale added.

Expressions of Interest for the offering are due to close in April 2021.

To request a copy of the Information Memorandum please email either of the marketing agents for, CBRE Melbourne City Sales and Development Sites team David Minty, Nathan Mufale, Alex Brierley or JJ Heng via the contact forms below.