Telstra offers Melbourne townhouse site
Telstra has listed another site with a leaseback, at Melbourne’s south east Rowville.
The brick exchange, on an 865 square metre Neighbourhood Residential zoned site at 12 Lambourne Avenue, is expected to trade for about $850,000.
The vendor wants to stay on for two years, paying a starting annual rent of $22,000.
It will also pick up outgoings.
After 2024 – or 2025 if Telstra renews an option – the property could make way for a housing project.
One dwelling or a townhouse development could be considered, Gray Johnson selling agent Rory White who is marketing the asset with Matt Hoath, said.
“There is good access to primary and secondary schools, local childcare and preschools,’ he added.
“While three major retail complexes – Westfield Knox, Rowville Lakes…or Wellington Village…are within reach,” according to the executive (story continues below).
The deal comes nearly three years since Telstra offloaded a Clayton data centre for $416.7m with a 30 year leaseback.
Centuria bought that 3.2 hectare property with 10 buildings.
Also in 2020, the telco sold a Sydney CBD exchange to Charter Hall, banking $281.5m.
That leaseback term was 10 years.
Telstra has also divested vacant sites including, in Melbourne, at Box Hill, last February, banking $4.7m.
In 2021, meanwhile, the group offloaded blocks at Hampton Park, collecting $460,000, Point Cook ($751,000) and Springvale ($2.2m).
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