Commercial Real Estate

Demand for industrial space has been driven up by businesses increasing inventory levels and away from the Just-In-Time delivery method.

The property was acquired by an owner-occupier despite being ‘highly suited to a residential development’.

The property was previously held by a private investor.

CBD office space is at risk of becoming obsolete with a new report finding 72% of buildings are not up to the standards of corporate clients.

The property was previously owned by Well Smart Investment Holdings, with the sale part of the company’s capital recycling strategy,

High demand from renters needing to store their goods is one factor driving increased interest in self-storage units.

The sale comes as tourism in the region remains above pre-Covid levels.

The property is a triple frontage site set across almost 5,000 square metres of North Melbourne land.

Office landlords are being required to offer significant incentives to lure tenants, despite rents increasing.