Carlton Corner Freehold Fetches $5m

Thursday 28 August 2014

Written by Nelson Yap

A private investor has purchased a high profile corner freehold on the edge of Melbourne’s CBD for $5 million in a deal negotiated by Savills and Burgess Rawson.

Savills’ Nick Peden and Jesse Radisich in conjunction with Burgess Rawson’s Jamie Perlinger and Shaun Venables sold the property at 1 Lygon St Carlton, on behalf of a private investor.

Peden said the expressions of interest campaign generated 135 enquiries.

He added that there were 30 inspections and 11 expressions of interest submitted.

“There was strong interest mainly from developers and investors, who saw the development potential.

“The property also received interest from owner occupiers,” he added.

The corner retail and office building comprises 607 sqm and is fully leased to three tenants, for $140,000 p.a. net.

The properties occupies a 607 sqm site on the northern edge of the Melbourne CBD.

Click here to view the article on The Property Review Australia.