Investors outlay $13.65m on Langridge Street

A trio of small properties on Langridge Street, Collingwood, have traded for a total of $13.65 million.
Closest to the city, #140-142 has collected $4.5m from a textile business which intends to occupy.
On 275 square metres at the north west corner of Cromwell St, the asset contains 550 sqm of lettable area.
The price sets a land rate record of $16,363 per sqm, according to the marketing agent, Gray Johnson’s Brett Simpson.
On the north east side of Cromwell, an investor has paid $7.2m for 144-152 Langridge St (pictured, top), on a 500 sqm plot.
Over two storeys, the 1000 sqm office is leased to Gregory Ladner and STREAT.
The purchase price reflects a 3.3 per cent yield.
A little further east, 156-158 Langridge St – a single level former bar, restaurant and takeaway outlet – has traded for $1.95m (story continues below).
The buyer, who owns a nearby food operation, intends to occupy with a new hospitality concept.
Mr Simpson brokered both these deals too.
“Significantly these three deals all set local records on a per sqm basis and confirm that interest in Collingwood holdings is amongst the strongest in the inner eastern city fringe,” he said.
A fortnight ago we reported skincare giant Aesop committed to c2500 sqm at Peregrine Projects’ Langridge Lanes, under construction at 88 Langridge St – a deal negotiated by Emmetts Real Estate’s Andrew Milligan.
Last year Warner Music Group leased 256 sqm in a compact office recently completed by Pace at the south east corner of Langridge and Wellington streets.
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