Healthcare executive sells government archives office
Regis Healthcare founder Bryan Dorman has sold a sprawling office at the Tally Ho business park, in Melbourne’s east.
Leased to the federal government for the National Archives of Australia, the two level asset, 31 Vision Drive, Burwood East, is collecting nearly $32 million from a Sydney based syndicator.
Mr Dorman paid Sergey Mudrachenko’s Ortello Investments Pty Ltd $24.25m nine years ago.
GPT also once owned the property – selling for $10.5m in 2008.
Long time tenant
Developed in 1994 for the National Archives of Australia, 31 Vision Dve covers 1.2 hectares, with 6400 square metres (story continues below).
The government just committed to a lease before the asset was listed in May – for five years with a four year option.
Based on the annual net rent, the sale price reflects a c7.5 per cent yield.
CBRE’s Scott Orchard and Will Heffernan with Gorman Commercial’s Peter Bremner and Jonathan McCormack were the agents.
The deal comes 18 months since Mr Dorman paid $45.5m for a Richmond showroom abutting another held seven years to create a 5238 sqm long term development site.
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