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Designed by award winning Cavill Architects, 17 Byres Street is a 3-level commercial office building. Byres Street provides a bold architectural statement for workplace design and features a high level of workplace amenity as well as a rooftop entertainment area.
Patona Property, representing the Australian Unity Property Income Fund, successfully completed the off-market transaction of 17 Byres Street for $11,500,000 - reflecting a 15% premium to book value.
With the asset facing an impending full building vacancy, Patona Property's strategic introduction of Housing Industry Association (HIA) as an owner-occupier secured a strong return for the investors.
17 Byres Street, Newstead
Land Area: 637sqm
NLA: 1,341sqm
Zoning: MU1 Mixed Use (Inner City)
Car Parks: 15 car bays
Sale Price: $11,500,000
Sale Rate / Sqm (Land): $16,739/sqm
Sale Rate / Sqm (NLA): $8,576/sqm