Buildcorp Commercial directors Scott McVilley and Ross Clarke sell Canterbury office for $11 million

Buildcorp Commercial managing director Scott McVilley and its development boss, Ross Clarke, have sold a contemporary suburban Melbourne office for $11 million.

The sale of 19 Shierlaw Avenue, Canterbury, came six months after it was listed by CBRE’s Scott Orchard, Josh Rutman and Lewis Tong.

The building carried a guide price of about $9 million prior to an auction last December, where it passed in.

According to this item in The Sydney Morning Herald today, 19 Shierlaw Avenue is trading to a mainland Chinese investor.

Developed by Buildcorp Commercial in 2004, the three-level office contains 1861 square metres of lettable area.

It sits on an 800 sqm site zoned Commercial 1 opposite the Maling Road retail strip and walking distance to the Canterbury train station.

Based on the asset’s advertised potential rental return of $601,626, the office is trading on a market yield circling 5.4 per cent.

Buildcorp Commercial has developed several offices along Shierlaw Avenue including the group’s headquarters, which is adjacent to #19.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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