Michael Yates to Sell South Yarra Office

SOUTH Yarra based developer Michael Yates is selling a near new office building, in what is fast becoming the centre of South Yarra.

The three-level, 2246 square metre office at 15 – 19 Claremont Street is leased to international publishing house Macmillian Publishing, which pays a current annual rent of $886,929.

The office is expected to fetch about $11 million, which would reflect a yield of about 8 per cent.

Read more