Swinburne University – realestatesource https://www.realestatesource.com.au Commercial and residential property news Mon, 04 Jun 2012 04:57:53 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Swinburne University – realestatesource https://www.realestatesource.com.au 32 32 $30 Million Mixed Use Project in Hawthorn, Melbourne, Sells Out https://www.realestatesource.com.au/30-million-mixed-use-project-in-hawthorn-melbourne-sells-out/ Mon, 04 Jun 2012 04:57:53 +0000 http://realestatesource.com.au/wordpress/30-million-mixed-use-project-in-hawthorn-melbourne-sells-out.html LOCAL developer Drive Projects with Interlandi Mantesso Architects has pocketed almost $30 million from the sale of apartments and strata office suites within a prominent mixed-use project abutting Swinburne University's Hawthorn campus.

The six-level project at 523 Burwood Road includes almost 50 flats and upper-level strata office suites. Earlier this year, the fifth level of the building, with a 415-square-metre office, 134 square metre terrace and 12 car park spaces sold for about $2.45 million.
]]> The top level of the building, a 410 square metre strata office, also with a terrace and parking for 12 cars, is now for sale at $2.45 million. The investment is leased for five years to the building’s developer, Drive Projects which pays annual rent of $185,000.

Colliers International marketing agents Hamish Burgess and Ben Baines say Hawthorn commands among the highest office rents outside the CBD, with an office space in Glenferrie Road recently leasing for about $460 a square metre a year after incentives (a rent discount offered in some cases to secure tenants).

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