Peninsula Hand Therapy has purchased a premises it was leasing on level 1, 2/315 Main Street, Mornington.

Jacobs and Lowe’s Jeremy Lewis handled the sale which was negotiated off-market.

He said the tenants has occupied this property since 2011 and when they indicated that they may be looking to move, I suggested to the owner that they may be interested to purchase.  

The vendor is the brother of the developer of this office building.

The property sold for $885,000 which would have equated to a yield 4.9% had the suite been sold to an investor.

Mr Lewis said he was seeing a rise in demand from tenants looking to buy the premises they were currently leasing.

“This is a quality Main Street office building which is tightly-held by its occupants,” he said.

He added that the office suite is situated in a modern building featuring full-height partitioned offices, kitchenette, air-conditioning and heating plus ample on-site car parking space.

“The occupants at the building are primarily medical and health businesses,” he said.

Mr Lewis added that the Peninsula has benefitted from strong demand from rising population growth during and since the pandemic as people opt for a sea change.

“The office market is now slowly coming back with a recent run of new leases and sales in Mornington,” he said.

To request an analysis of the sale please email either of the marketing agents via the below contact forms. 

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