Andrew Myer to Sell Part of South Yarra Project

Mr Myer is selling three strata-titled office suites, part of the mixed-use 9-11 Claremont Street building in South Yarra, in deals that are expected to make about $1.8million.

Biggin & Scott director Frank Nagle said Mr Myer would lease back two of the office suites, to be sold together, returning a starting annual rent of $104,000.

A third office suite, available for sale separately, returns $38,000 a year rent.

Mr Nagle said the Forrest Hill pocket of South Yarra – the name given to the former industrial area north of Toorak Road, between the train station and Chapel Street – still had strong tenant and investor demand.

Mr Myer’s most recent property development includes The Well at Camberwell shopping centre.

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Marc Pallisco

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

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