SU-LIN TAN
Posted on 18 September 2014
A local Asian investor has outbid six bidders in a 100 person strong auction to secure a commercial brick building on 21-25 Bouverie Street in Melbourne's Carlton for $11.4 million.
There was a fierce battle for the three-storey loft style building on an island site with frontages to Bouverie Street, Bouverie Place and Alma Place.
The 823 sqm building earns an annual net rent of $468,000 from lessee Grimshaw Architects until 2019. A private investor sold the site which has a development potential for a high rise residential development.
Vinci Carbone's Joseph Carbone and Frank Vinci handled the transaction.
There was a fierce battle for the three-storey loft style building on an island site with frontages to Bouverie Street, Bouverie Place and Alma Place.
The 823 sqm building earns an annual net rent of $468,000 from lessee Grimshaw Architects until 2019. A private investor sold the site which has a development potential for a high rise residential development.
Vinci Carbone's Joseph Carbone and Frank Vinci handled the transaction.