West Melbourne office building fetches $6.8 million at auction

West Melbourne office building fetches $6.8 million at auction
West Melbourne office building fetches $6.8 million at auction

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.

Tags: 
Property Development Office Market

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