Telstra offers Melbourne townhouse site

The Lambourne Avenue site is expected to attract townhouse developers.

Telstra has listed another site with a leaseback, at Melbourne’s south east Rowville.

The brick exchange, on an 865 square metre Neighbourhood Residential zoned site at 12 Lambourne Avenue, is expected to trade for about $850,000.

Telstra offloaded a redundant Point Cook parcel for $751,000 in 2021.

The vendor wants to stay on for two years, paying a starting annual rent of $22,000.

It will also pick up outgoings.

After 2024 – or 2025 if Telstra renews an option – the property could make way for a housing project.

One dwelling or a townhouse development could be considered, Gray Johnson selling agent Rory White who is marketing the asset with Matt Hoath, said.

“There is good access to primary and secondary schools, local childcare and preschools,’ he added.

“While three major retail complexes – Westfield Knox, Rowville Lakes…or Wellington Village…are within reach,” according to the executive (story continues below).

Telstra sold Charter Hall a Sydney CBD exchange with a 10 year leaseback.

The deal comes nearly three years since Telstra offloaded a Clayton data centre for $416.7m with a 30 year leaseback.

Alex Zhang’s Zynergy Property bought a Box Hill site from Telstra last year.

Centuria bought that 3.2 hectare property with 10 buildings.

Also in 2020, the telco sold a Sydney CBD exchange to Charter Hall, banking $281.5m.

That leaseback term was 10 years.

Telstra has also divested vacant sites including, in Melbourne, at Box Hill, last February, banking $4.7m.

In 2021, meanwhile, the group offloaded blocks at Hampton Park, collecting $460,000, Point Cook ($751,000) and Springvale ($2.2m).

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of