Heidelberg Building Sold for $3.6 Million
A corporate building with value-add potential at Heidelberg in Melbourne’s east which is currently leased to a federal government agency has been sold by Ray White Commercial for $3.6 million.
The 1028 sqm building at 21 Yarra Street, Heidelberg, was sold to a local investor/developer prior to auction by Brett Diston of Ray White Commercial Victoria on behalf of a private syndicate.
Brett Diston said the property is currently leased by Centrelink but the agency’s lease expires in July, 2016.
“This building is zoned Commercial 1 and there is scope to take advantage of the redevelopment potential (STCA),” he said.
“The property is currently leased for $231,886 per annum gross so there is good holding income for the purchaser.”
“The building is located in the town centre of Heidelberg with easy access to public transport, a Woolworths supermarket and the Heidelberg retail precinct.”
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