Latest news
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HUGE RESULT AT 563 Victoria Street, Abbotsford
[Thursday, April 22, 2010]
 Rare versatile commercial property SOLD at Auction for $2.805mil!
Situated in an excellent growth location in the Victoria Gardens precinct, the property located at 563 Victoria Street, Abbotsford drew excellent enquiry from owner occupiers, developers and investors.
Senior Sales and Leasing Executive Bradley Ellul believes that this is another example of the market running hot and competitive for good commercial property in city fringe areas.
After an extensive marketing campaign the auction for this functional building on 687 square metres of Business 3 land attracted a crowd of around 100 people to the auction
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STRONG PRESALES IN ABBOTSFORD
[Tuesday, February 23, 2010]
 Construction of 18 new offices/showrooms in the premium city fringe location of Abbotsford is currently underway. Stage 1 is almost complete and stage 2 of constructing a further 13 buildings, has also commenced. Almost 50% of the project has been sold off the plan, totalling some $12 million in sales at a rate of approx $5,500 per square metre.
Located on the banks of the Yarra fronting Victoria crescent, the property neighbours Nike, Bardot, Salvation Army and Aquila. The project offers a village style complex of 18 individual 2 storey offices/showrooms with open car parking and excellent natural light. A Café is also on offer.
Charles Cini of CVA Property Consultants says, this style of project will be almost impossible to repeat in this inner suburban location. Producing individual buildings like this will be close to impossible with land prices in the city fringe soaring. The only option is high density development, which spreads the cost of the land over a greater building area. This however leads to greater operating costs and individual identity is lost. Purchasers of these buildings will have a very unique product.
The project has been created and managed by Encapsa Development Management a company that facilitates significant property development opportunities and investment partnership in alliance with CVA property consultants and ACS Advanced Construction Solution.
To view full property particulars visit: www.cva.net.au property id: 5632
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GREAT RESULTS FOR THE OLD DUKE
[Tuesday, November 10, 2009]
 The new 8 level hotel and office complex at the corner of Flinders and Russell Streets is now 70% leased. Only three office floors remain to be leased. Levels 6, 7, and 8, plus the ground, 1st and 2nd floors of the previous Duke of Wellington Hotel have been leased at premium rental levels in the passed 3 months. Levels 3, 4 and 5 remain for lease with strong enquiries for the remaining floors.
Rentals of $425psm, $450psm and $475psm plus outgoings have been achieved for the office floors. The Hotel component over three levels has also been leased and is undergoing a substatial fit out by the lessee.
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