Melbourne office block sells at $88,888,888

Melbourne office block sells at $88,888,888
Melbourne office block sells at $88,888,888

LYZ Property Group, a subsidiary of Chinese developer Hengmao Group, has reportedly paid $88,888,888 million for Computershare's headquarters in Melbourne.

The Abbotsford headquarters was sold in a leaseback deal.

It was thought the property could fetch around $80 million but fared the especially auspicious price after competitive interest.

Computershare has a seven-year, triple net leaseback with options until 2029. The starting rent will total $5.3 million annually for the two-level office building at 452-484 Johnston Street that comprises around 16,000 square metres of office space, with 485 car spaces.

The property sits on 16,920 sq m with frontage to the Yarra River.

A Chinese family family paid $8,888,888 for a small office building on Melbourne's Collins Street last year.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Chinese Buyers Commercial Sale

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