Malaysian investor buys South Yarra strata office for $4.28 million

Just three days after the close of an expression of interest campaign, a Malaysian investor has swooped in on a whole top floor stratum titled office in Melbourne's South Yarra.

At $4.28 million, the sale is seen as one of the most significant Melbourne strata office transactions in recent years, equating a rate of $7,781 per square metre.

More than 60 enquiries were received through a marketing campaign steered by CBRE's Ed Wright, Tom Tuxworth and Mark Wizel.

The property has a total building area of 645 square metres, of which 366 square metres is available for immediate occupation. The balance - 279 square metres- is leased to the Bridge Consulting Group, generating a net income of $156,000 per annum.

The property at 9 Yarra st, South Yarra was sold with "value-add potential" with plans and permits to add an additional 16th level incorporating 591 square metres of building area.