Dennis Family Homes HQ listed as a development opportunity

A meeting room at 207-213 Waverley Road, Malvern East.

The Malvern East headquarters of Dennis Family Homes has been listed for sale as a development opportunity.

Dennis Family Homes built the office at 207-213 Waverley Road, Malvern East in 1989 and has occupied it since.

The home builder sold the property for $7.85 million in 2013 with a leaseback. At the time it was on land zoned Business 2.

The investor who bought the 1622 square metre holding on the north-east corner of Emo Road, now zoned Commercial 1, has since obtained a development permit for a four-level mixed-use building containing 44 apartments and 69 car spaces.

This proposed complex would replace the two-storey building on the site which contains 2272 sqm of office area and 71 car parks.

Dennis Family Holdings currently pays annual rent of $731,032 for the office on a lease expiring in March, 2019.

Colliers International’s Peter Bremner and Andrew Ryan have the listing. The brokers are closing an expressions of interest campaign on December 6.

An aerial image showing the site (highlighted) in relation to the Melbourne CBD, about 13 kilometres away.

 

Marc Pallisco

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

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