Camberwell office fetches $22m
Peak Equities has sold a prominent Camberwell Junction office held nine years.
The leasehold for 250 Camberwell Road traded to a locally based Asia backed investor for a speculated $22 million.
With 4954 square metres over five floors, and 125 car parks, Leaptel and Financial Foundation Australia are amongst the occupiers.
Australian Pharmaceutical Industries is the anchor, for Priceline’s headquarters.
The annual net rental return is $2.08m.
The weighted average lease expiry is six years.
Cushman & Wakefield’s Daniel Wolman, Oliver Hay, Raphael Favas and Leon Ma with Gorman Commercial’s Peter Bremner and Stephen Gorman were the agents (continues below).
250 Camberwell Road
The Camberwell office, also exposed to Burke Rd and Lower Reserve, was built in 2002 for publisher, Penguin.
The freehold is held by the Anglican Diocese, owner of the neighbouring church, St John’s.
It expires in 2075 or, if the then-owner exercises an option, in 2115.
Camberwell is about 10 kilometres east of Melbourne’s CBD.
Subscribe to our newsletter at the bottom of this page.
