Wolfstep to Build Surrey Hills Office

Wolfstep will team with Access Constructions, a wholly owned subsidiary of ASX listed Folkestone Ltd, to build the 1902 square metre office building, which will be divided into 11 separate offices of between 74 square metres and 264 square metres.

The developer’s biggest project is the 8-hectare, Portside Business Park, developed on land once owned by General Motors Holden. However recently it has targeted the suburbs, developing similar strata offices to its Surrey Hills project, in Mulgrave, Mt Waverley and Hawthorn.

Wolfstep bought the 1500 square metre Surrey Hills site, formerly the Pierre Collett Motors car dealership and service centre, for an undisclosed price believed to be about $2 million, in 2005.

GormanKelly selling agent Ross Thomas says that recent office developments have targeted large corporate tenants. Consequently there has been no purpose built strata buildings in the Camberwell/Hawthorn/Surrey Hills area for over three years, creating a very strong pent up demand especially for owner occupiers and private investors.

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Marc Pallisco

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

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