$30 Million Mixed Use Project in Hawthorn, Melbourne, Sells Out

The top level of the building, a 410 square metre strata office, also with a terrace and parking for 12 cars, is now for sale at $2.45 million. The investment is leased for five years to the building’s developer, Drive Projects which pays annual rent of $185,000.

Colliers International marketing agents Hamish Burgess and Ben Baines say Hawthorn commands among the highest office rents outside the CBD, with an office space in Glenferrie Road recently leasing for about $460 a square metre a year after incentives (a rent discount offered in some cases to secure tenants).

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.