Landlord sells Melbourne office to tenant
EXCLUSIVE
Accord Property Group has sold a prominent suburban Melbourne office to the not-for-profit occupier for $22.6 million.
The five level building, 340 Bell Street, Preston, settled in April to VACCA, or the Victorian Aboriginal Child and Community Agency.
Developed in 2009 it contains 3555 square metres of A-grade space.
On 1294 sqm at the north east corner of May, there are also 11 car parks.
JLL’s Tim Carr, Josh Rutman, Mark Stafford and Piper Dedrick were the agents.
Major Preston deal
VACCO, for years a part-occupier at Preston, recently took over tenancies occupied by Leader News and NMT Care.
The Leukaemia Foundation also once occupied the building diagonally adjacent to Bell train station, between St Georges Road and High St, about10 kilometres north of town.
The deal was brokered off-market.
Accord is also trying to sell a new office at 88 Laurens Street, beside the Is Don Is Good silos, in the Arden pocket of North Melbourne.
With 17,781 sqm over 12 floors, that asset carries $100m-plus expectations.
Cushman & Wakefield’s Leigh Melbourne and Nick Rathgeber are the agents.
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