Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Race is on to secure long WALE office investments in Melbourne’s fringe market

Jessica Freeman • 10/06/2022

6-Gladstone-St-HeroImage: 6 Gladstone St

Since 2018, the average capital value for fringe office transactions have been increasing year on year, demonstrating the growing appetite and desire for Melbourne fringe office assets; a market which has enjoyed a record-breaking year by attracting close to $1.2Bn worth of capital in 2021, a total greater than any prior year.

According to Cushman & Wakefield, in 2021 capital into Melbourne’s fringe outperformed the CBD for institutional grade office sales ($50m - $300m) and approximately $1.3Bn was invested in Melbourne’s fringe compared to $737m in the CBD, representing a 63% to 37% split.

In light of this, a landmark commercial investment property leased to longstanding tenant, the Australian Tax Office (ATO) and recently committed tenant, Honda is set to hit the market. The offering boasts a secure income stream in one of Melbourne’s thriving inner metropolitan locations.

Located at 6 Gladstone Street, Moonee Ponds, the immaculately presented, institutional grade seven level office building with scope for immediate upside offers a Net Lettable Area of 20,021sqm on a 5,345sqm site with basement parking for 88 cars and is for sale through Leigh Melbourne, Nick Rathgeber, Josh Cullen and Mark Hansen of Cushman & Wakefield.

According to Leigh Melbourne, the property was purpose built for the ATO, the anchor tenant since the building’s completion in 1992 and have recently committed to another 10-year lease, taking occupation out until April 2032, bringing the building’s WALE to 8 years.

“The ATO has a strong track record for renewing multiple terms in one place of occupation and extensive refurbishment works have taken place throughout the ATO tenancy and common areas, updating this institutional grade office building with scope for immediate upside”.

Nick Rathgeber said The Federal Government has an ongoing commitment to the decentralisation of jobs to support greater metropolitan and regional areas and Moonee Ponds has been designated a major activity centre and aims to provide a suburban focal point for services, employment, housing, public transport and social interaction.

A 100% freehold interest for 6 Gladstone Street is offered for sale via international expressions of interest Wednesday 20 July 2022 at 2pm (AEST).

How can we help?

Get in touch with one of our professionals.

Recent Media Releases

climate positive real estate
5 Steps to Climate Positive Real Estate

Cushman & Wakefield, a leading global real estate services firm, today released its 5 steps to climate positive real estate report at the China International Import Expo (CIIE) in Shanghai. 

Jessica Freeman • 09/12/2022

146 Colin Street-card
Blackoak’s repositioning of Perth commercial office sees global tenants swoon

In late 2018, Blackoak Capital acquired 146 Colin Street, West Perth from CBH Super Fund and after investing $4 million on a complete refurbishment to ensure a long term reposition of the asset, the building in projected to achieve a 5.5 Star NABERS rating and boasts market leading End of Trip Facilities, which have become a deliverable very much associated with Blackoak’s projects.

Jessica Freeman • 02/12/2022

Cushman & Wakefield Named World’s Best Real Estate Advisor and Consultant by Euromoney for Fifth Consecutive Year

Cushman & Wakefield has been named the world’s best commercial real estate advisor and consultant overall for the fifth consecutive year by Euromoney’s 2022 Real Estate Survey. 

Jessica Freeman • 04/10/2022

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All