SYDNEY DEVELOPER SWOOPS ON PRAHRAN OFFICE
Posted on 21 November 2013
SYDNEY-based developer has snapped up a three-level building at High St Prahran for $8.25 million, while Zagame Hospitality Group sold another investment for $1.75 million.
Vinci Carbone Property's Frank Vinci negotiated the sale of 121-127 High St Prahran, which comprises a three level former warehouse converted into offices and storage.
The building has a total area of 3,400 sqm including basement and undercover parking areas and has been occupied by VYX Technology before they relocated to the Melbourne CBD.
Just a few hundred metres Vinci Carbone also sold 223 High St Prahran for $1,750,000. The property comprises a part two storey showroom office warehouse with total area of 375 sqm.
It was sold on behalf of an entity associated with the Zagame Hospitality Group, which is owned by Melbourne's luxury car dealership king Bobby Zagame.
Frank Vinci said both properties grew over 50 enquiries and there were three offers made for each property.
In August Zagame paid approximately $10 million for four buildings on Swan St Richmond. The transaction was also negotiated by Vinci Carbone.