Solomon Lew secures 457 St Kilda Road for $55 million

Solomon Lew secures 457 St Kilda Road for $55 million
Solomon Lew secures 457 St Kilda Road for $55 million

Solomon Lew’s Premier Investments has secured 457 St Kilda Road, Mebourne.

The vacant building fetched $55 million in a contest with residential developers for space on Melbourne’s premier boulevard.

The deal was negotiated by Teska Carson in conjunction with CBRE.

St Kilda Road has been the subject of many recent news stories, most recently regarding conversions to residential with tens of thousands of square metres of office stock withdrawn in the last 12 months alone.

Located in St Kilda Road’s Fawkner Park precinct, the property comprises 9349 square metres of office space over eight stories with 119 parking bays on a 3035 square metre site.

Recently vacated by Computershare subsidiary, Serviceworks Management, the property attracted 10 expressions of interest.

The property was last sold in 2002 also through Teska Carson for $23,250,000.

The vendor was a private investment group.

In the mid-1990s, 457 Urban Land Development was part of the Norwich Union portfolio.

Tags: 
Melbourne Office Teska Carson

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