Former Piping Hot owner and managing director Mark Johannsen is selling a South Melbourne office after 14 years.
The executive can expect about $10 million for 101-105 Clarke Street, at the north east corner of Ross Place.
He paid $2.975m.
That vendor, Guides Victoria, occupied the triple storey building as the Joyce Price Centre since outlaying $2.45m in 2004.
101-105 Clarke Street, South Melbourne
The property is expected to be on the radar of owner occupiers, with about half of the 1025 square metres of lettable area vacant.
The 559 sqm Commercial 2 zoned block is visible from the West Gate Freeway, allowing for an effective rooftop display (story continues below).
There are also 12 ground floor car parks.
“South Melbourne offers the best of Melbourne at your doorstep, being a short walk to the world-renowned South Melbourne Market, not to mention popular trendy cafes, bars, restaurants, and exceptional retail shopping on Clarendon Street,” Mr Isaksson said.
“The suburb is set to significantly benefit from the development of the forthcoming Anzac Train Station in 2025*, near the Shrine of Remembrance, which will significantly improve access to this precinct,” he added.
Last year, Hickory completed construction of a 9823 sqm building, Market Lane, at 68 Clarke St – diagonally adjacent to #101-105.
Five weeks ago, Centuria paid Deague Group $205.1m for a 15,907 sqm office, recently completed around the corner, at 101 Moray St.
“Both of these buildings are close to, or at full tenant capacity and we expect investors – both local and offshore – to look to capitalise on the tenant demand in this precinct as well through the acquisition of 101-105 Clarke Street” according to Mr Wolman.
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