New Malvern office for sale again
Landis Property’s first commercial project, completed last June in Malvern, footsteps to the Armadale border, is for sale again.
The seven level, 3537 square metre office at 1-3 Como Street replaced a plan for a similar sized structure, with luxury apartments, being marketed as One Como.
Largely vacant, the asset was last offered eight months ago when it was speculated to have achieved in the early $20 millions. It could achieve less this time around according to sources.
CBRE’s Tom Ryan and Scott Orchard are the agents for receiver and manager, FTI Consulting.
Landis, led by Terry Livanidis, has completed some 3400 Melbourne apartments.
It paid $6m for the 935 sqm Como St block in 2015.
1-3 Como Street
Part of 1-3 Como St is leased to Wealth management firm Proctor Major (story continues below).
The balance contains tenancies from 397-714 sqm, the latter, a full floor.
The property also includes an activated rooftop, end of trip facilities and 38 basement car parks.
The listing comes a month since we reported Up Property paid Telstra c$7m for an ex-exchange and post office at 8 Llaneast St, Armadale – a property also the Malvern border – with plans for a mixed-use redevelopment.
In Malvern meanwhile, David Joachim’s Third Street recently listed a permit-ready apartment development site 204-208 Wattletree Road, with c$13m-plus price hopes.
Como St, near Malvern Central and Malvern Station, is about 7.5 kilometres south east of the CBD.
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