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South Yarra investment with 10-year lease to Malaysian Consulate set to sell

Jess Freeman • 20/09/2023


Two and a half floors inside Yarra One, a landmark office building in the heart of South Yarra, designed by the renowned architectural firm Fender Katsalidis and completed in 2020 by owners EcoWorld International are set to hit the market this month through Cushman & Wakefield’s Melbco Strata Markets team.

Located at 16 Claremont Street, Levels 1 & 2 consists of two fully self-contained whole floors, offering a substantial 954sqm of prime office space, accompanied by seven car parks and two storage units. The Malaysian Consulate has committed to a 10-year lease + options, providing a net income of $451,360 p.a. + GST & Outgoings with annual CPI increases.

The meticulously designed interior features expansive waiting areas, multiple private meeting rooms and boardrooms, an exclusive office for the consulate general, a spacious kitchen, and luxury end-of-trip facilities. Located in the heart of South Yarra's 'Forrest Hill' precinct, this property benefits from immediate access to Chapel Street, Toorak Road, the Royal Botanic Gardens, and Fawkner Park, as well as excellent public transport options.

Half of Level 3 is a modern, vacant sunlit office space spanning 149sqm and is a blank canvas for ambitious business owners or savvy investors.

It features an architecturally designed fitout, including an expansive waiting/lounge area, boardroom, exclusive Director's office, kitchen, and bathroom with showering facilities and is perfect for businesses with five to 15 staff members. Three secure basement car parks are accessible via Daly Street.

According to George Davies, Cushman & Wakefield’s Associate Director Investment Sales, Victoria, who is selling the three floors, alongside colleagues Anthony Kirwan, Raphael Favas and Jeff Ha these remarkable assets represent a sound investment opportunity in the vibrant South Yarra district.

“With a robust 10-year lease agreement secured by the Malaysian Consulate over two floors and another half floor available in such a prestigious building, this is an opportunity which is set to provide unparalleled stability in South Yarra’s renowned ‘Forrest Hill’ precinct, a $4 billion urban renewal project that was implemented in 2005 and is now home to over 10,000 residents and workers.

Furthermore, Anthony Kirwan, Cushman & Wakefield’s Associate Director Investment Sales, VIC believes South Yarra's allure as a prime location for business and lifestyle further enhances the attractiveness of this property.

“This property offers access to Chapel Street, Toorak Road, the Royal Botanic Gardens, Fawkner Park, and excellent public transport options, including South Yarra Station and tram routes (58 & 78) along Toorak Road” he said.

Both Level 1 & 2 and Half of Level 3 are available for sale separately through Cushman & Wakefield, with Expressions of Interest (EOI) closing on Wednesday, October 11, 2023, at 12 pm AEST.


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