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News release

Melbourne

Owner occupier acquires office building in Melbourne's east for $4.3 million

140 Burwood Highway, Burwood


A local owner occupier has purchased a high profile office building at 140 Burwood Highway, Burwood in Melbourne's east for $4.3million.

Peter Sprekos and Joshua Tebb of JLL sold the property with vacant possession via Realisation Auction.

Situated on one of Melbourne's busiest roads, the building comprises 2,169sqm* of NLA over two levels occupying a total land area of 1,850sqm* and has 74 on-site car spaces. The property is zoned Commercial 2 under the Whitehorse Planning Scheme.

Located 18 kilometres east of the CBD in one of Melbourne's most highly regarded business precincts; 140 Burwood Highway is easily accessible via major arterial roads and public transport. Surrounded by excellent amenity, the property is within close proximity to Burwood Shopping Centre and Greenwood Business Park which accommodates large national groups including Telstra and Deakin University.

JLL's Manager, Sales and Investments, Peter Sprekos said, "Given the property is not subject to any planning overlays under the Whitehorse Planning Scheme, it drew significant interest from occupiers and investors."

JLL's Director, Office Leasing, Joshua Tebb said, "It is not often that a sizeable building comes to the market offering vacant possession and thus we received over 50 enquiries during the campaign."

*Approximately