Enormous Peter Stevens workshop sells to another occupier
A former TNT factory in Melbourne’s inner north west Kensington, for decades owner-occupied by Peter Stevens, which temporarily went into receivership in April, has sold.
The incoming owner of 20-26 Stubbs Street, with rear access to Lambeth, is Advanced Vetcare, with plans to occupy.
It is paying c$11.9 million – a rate per square metre of $3889 for the building and $2917 for the land.
About 500 sqm of the 3601 sqm area is offices.
The 4080 sqm is zoned Mixed Use, surrounded by high a swag of new apartment projects – one which replaced another ex-TNT factory, at the corner of Macaulay Rd.
Coincidentally, the precinct’s biggest undeveloped block – 70 Robertson St, at the south west corner of Stubbs, was listed this month by long-time occupier, the Australian Wool Testing Authority.
Spreading 1.18 hectares it carries $45m-plus price hopes.
Cushman & Wakefield’s Joe Kairouz, Hamish Burgess, Oliver Hay and Anthony Kirwan are the agents.
Occupiers trade acre site
The Peter Stevens and Harley Heaven dealership network sold largely to Motorcycle Holdings Ltd and Joe Rascal Group.
Peter Stevens Group paid $1.282m for 20-26 Stubbs St in 1998.
The latest sale was brokered by GormanKelly’s Nick Breheny and Francis Sbaglia.
Advanced Vetcare will relocate from a Kensington tenancy across the road at 26 Robertson St – part of the amalgamation AWTA listed for sale.
The vet also has Kew and Geelong bases.
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