Ex-Atari showroom sells to developer

Sector Property Group has snapped up the distinctive spaceship shaped ex-Atari headquarters, in Oakleigh.

The site, 1076 Centre Road, is costing $24.25 million from Glasskote, which offered it with a short leaseback.

The property contains an office/showroom surrounded by a garden atrium and about 40 car parks.

CBRE’s Bryce Pane and Lachlan Ferguson were the agents.

Another ex-Atari base, 14 Queens Rd, Melbourne, was five years ago replaced with a mixed-use complex containing a residential component, known as Arthur Apartments, and a Tyrian hotel (story continues below).

Site earmarked for The Base

Sector has earmarked the Oakleigh parcel for a The Base self-storage and warehouse facility (story continues below).

“It has a great residential interface being surrounded by the well-established and premium suburbs of Bentleigh, Ormond, Huntingdale and close to Brighton,” company owner and director David Loakes said of the property.

“It’s also in the golf belt with Huntingdale, Metropolitan, and Commonwealth courses nearby which makes it an attractive investment for buyers looking for one of our flexible storage units,” he added.

“Of all our sites this is so far our best and it’s not everyday you get to buy a spaceship”.

A The Base project is also proposed for a 6500 sqm Preston site the group acquired for $7m in April.

Mr Loakes is also a co-owner of a prime Spotswood industrial development site which hit the market last month carrying c$19m-plus price hopes.

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Marc Pallisco

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