A Melbourne based developer is selling the newly completed A-grade commercial office building at 141 Camberwell Road in Camberwell Junction, known as CV@141 Camberwell Road.
Cushman & Wakefield’s Nick Rathgeber, Leigh Melbourne, Josh Cullen and Mark Hansen have been exclusively appointed to manage the sale via an international expressions of interest campaign, with a price guide of more than $120 million.
The development, completed by Pamato Corporation in February 2020, was designed by Melbourne-based architects Elenberg Fraser. The office building is being sold fully leased with a weighted average lease expiry (WALE) of over 7 years. Major tenants include Miele Australian Headquarters, Cabrini Health and Siemens Healthineers Australian Headquarters, with the latter two joining the long list of health based office occupiers in Hawthorn and Camberwell.
The brand new office building comprises 10,200 sqm of net lettable area and offers modern amenity including campus-style floor plates of up to 2,700sqm. It also hosts quality end of trip facilities and gymnasium, luxury common areas, well renowned on-site cafe and provides 304 car spaces.
Cushman & Wakefield’s Nick Rathgeber, said: “141 Camberwell Road outstrips its direct competitors in so many ways. A range of blue-chip tenants were attracted to its exceptional amenity and location, and a WALE of more than seven years and strong covenants underpin income security for a potential purchaser, with the additional attraction of health industry occupiers.”
“As the third office investment over $100 million to come to market in Melbourne’s metro markets this year, we expect it to attract significant attention from local and global investors. Particularly given that it’s situated in the affluent Camberwell Junction Precinct, at the doorstep of major retailers and well serviced by transport options.”
“We are also seeing increased interest in metro locations amid the pandemic as organisations look to offer ‘close to home’ options for their people and the ability to drive. As a result, car spaces are highly sought after, and 141 Camberwell Road has a higher car space ratio than any other commercial office building in the fringe market.”