Occupier picks up vacant Surrey Hills office

In February, an occupier paid $16.6m for an Eaglemont office.

Trident Financial Services has acquired a Surrey Hills office to occupy.

The double storey building at 268 Canterbury Road, on the south east corner of Redvers Street, set it back $9.7 million.

The buyer will renovate, then later this year, relocate from neighbouring Canterbury.

Colliers’ Peter Bremner, Ted Dwyer and Alex Browne with Gross Waddell ICR’s Andrew Greenway, Michael Gross and Andrew Waddell represented the vendor, a private investor.

The deal comes six months since Troon Group and MaxCap banked more than $28m from a three-storey office at 3-7 Hamilton St, in the pocket.

In mid-2019, 635 Canterbury Rd, Surrey Hills, traded for $5.7m – again to an occupier.

268 Canterbury Road

Over two self-contained levels, 268 Canterbury Road includes 1550 square metres of area; the building’s air conditioning, electrical system, entrance foyer, carpets, ceilings and lifts were recently upgraded (story continues below).

The 1950 sqm Commercial 1 zoned site also contains 30 car parks.

The Chatham train station is about 150 metres away; retail precincts at Maling and Union roads are also walking distance.

“At least 20 different buyers inspected over the six eek campaign, the majority of which were local owner-occupiers, white collar service businesses involved in industries like financial, retail, legal and medical,” Mr Bremner said.

“It was extremely rare for a circa 1500 sqm building to be offered for sale with vacant possession in Melbourne’s blue chip eastern suburbs however it was a good test of the strength of the owner-occupier market” according to the executive.

In February, biomedical group AXXIN paid $16.6m for an Eaglemont office, also with the intention to occupy.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.