Melbourne office sold for BYD dealership
Car dealership executive Darren Bourke has bought a vacant suburban Melbourne office with plans to repurpose and relet it as a BYD showroom.
The Doncaster East property, 888 Doncaster Road, at the south west corner of Mitchell Street, cost $8,802,513.
On 1863 square metres zoned Commercial 1 in an established commercial precinct – neighbouring the Jackson Court shopping precinct – the two level building contains 1568 sqm and 61 basement car parks.
It was last occupied by real estate agency RT Edgar as its Manningham office, and Haines Muir Hill (HMH) Advisory – the latter which occupied decades.
Allard & Shelton’s Tony Nguyen and Joseph Walton were the agents.
They said in its current condition, the building could collect net annual rent of c$646,000.
The deal comes as Harmony Automotive Group continues its expansion of BYD’s Australian retail network; the dealer group has become one of the country’s fastest-growing electric vehicle operators, opening multiple BYD locations after securing direct dealership rights with the brand.
Last week realestatesource.com.au reported BYD expanded its presence in a Bayswater industrial estate recently purchased by EG Funds (continues below).
Doncaster deals
The Doncaster Rd acquisition comes as the Bourke family reweighs its automotive interests.
Barry Bourke Motors – established in the 1990s and which Mr Bourke now controls – late last year sold a portfolio of 10 dealership businesses to Autosports Group, including Jaguar Land Rover Doncaster and other Victorian operations – banking $34m.
In 2020, we reported luxury car dealer Nick Theodossi acquired the Doncaster BMW freehold at 812-814 Doncaster Rd.
Doncaster East is about 20 kilometres east of Melbourne’s CBD.
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