GE Real Estate to Retain 333 Exhibition Street After Campaign Yields No Hits

Sources say GE was after $20 million for the B-grade building, which would have translated to a yield of about 5.8 per cent, on a fully let basis.

Part of the problem was that the 22-year old, 6,458 square metre building was not fully leased, with major tenant Telstra actually vacating office space it occupied, on Wednesday.

A GE spokesman failed to return calls.

It’s been speculated the fund manager will try to lease up the recently vacated space, and put the asset back on the market at a more favourable time in the market.

Share or Recommend article

Marc Pallisco

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

Leave a Reply

Your email address will not be published.