West Melbourne office building fetches $6.8 million at auction
Staff reporterDecember 7, 2020
A mixed-use development property in west Melbourne has sold to a local investor at auction for $6.8 million.
The 55 Walsh Street property comprises a three-level office building with multiple tenancies currently returns $208,000 per annum gross.
There are some vacancies as well, hence the potential to increase income.
The sale through Anthony Carbone of CVA Property Consultants represents a rate of $3,269.23 per metre square.
The building is in a mixed-use zone allotment of 695 square metres, allowing for development including but not limited to office and residential (STPA).
It is close to Queen Victoria Market and Flagstaff railway station.