Investor snaps up Hawthorn office suite

An investor has paid $820,000 for a Hawthorn, Melbourne office suite through Teska Carson’s Tom Maule. 

The property, 12-14 Cato Street, features a 193 square metre office suite with an open plan layout, meeting room, and board room, and six under cover car spaces. It was sold subject to a monthly lease at $4315 a square metre.

Tom Maule said strata office suites in the most desirable inner suburbs were very popular with small investors, including SMSFs, and owner-occupiers.

"These type of properties are very popular with a host of buyers looking for a more attractive yield than is available with other investment classes at the moment, particularly with borrowing rates so low," he said.

"The property attracted quite a good level of interest due to the very high standard of accommodation in what has historically been a very desirable address for both commercial and residential users."