Occupiers trade $18m strata office
CareSuper has banked $17.8 million for the bulk of a five storey inner-city Melbourne building.
The vendor seized control of ground and levels one to three, 33 Lincoln Square South, Carlton, having taken over the Meat Industry Employees’ Superannuation Fund last month.
The MIESF paid $7.9m in 2007 to occupy.
The top floor is configured with four apartments, held separately.
33 Lincoln Square South office strata
With 2965 square metres – an average floorplate of 741 sqm – and 31 basement car parks, the 33 Lincoln Sq South strata was marketed to other occupiers, or investors, in the heart of the city’s biomedical and education precincts.
The incoming owner, as yet undisclosed, is in the education sector and also plans to occupy.
Seven offers came in, JLL’s Tim Carr, who brokered the deal with Josh Rutman and Mingxuan Li, said.
The result values the building area, at the south east corner of Bouverie St, opposite Lincoln Square, at $6004 per sqm.
Settlement was offered in a short 49 days.
“Owner-occupier activity remains a defining characteristic of Melbourne’s office market, with this transaction contributing to more than $200 million in owner-occupier deals executed by JLL over the past three years,” Mr Carr said.
“This buyer segment has consistently demonstrated an ability to pay a premium for well located CBD and suburban assets,” he added.
Coincidentally the same agents are marketing the neighbouring five level building, 23-31 Lincoln Sq South, permit-ready for a major student accommodation complex.
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