DBRREEF to Sell Abbotsford Office Building with Redevelopment Potential
Sources say the Abbotsford Property Syndicate could reap more than $20 million from the sale of the red brick office building at 64 – 72 Trennery Crescent. The property will be sold with a new 7 year lease to engineering giant John Holland, which is 99 per cent owned by Leighton Holdings.
Up for grabs is a 5,296 square metre A-grade office building with a central courtyard, views and direct access to the Yarra River and Dights Falls. The property, near the Eastern Freeway entry and Yarra Bend Park, includes 204 car spaces and sits on a 5,927 square metre block.
Knight Frank director Nick Peden is marketing the property with Paul Burns.
The Abbotsford precinct is undergoing a development wave at the moment. Two doors down from the DBRREEF syndicate owned property, at the corner of Johnston Street, Investa is developing a 10,000 square metre office building with 1000 square metres of ground floor retail space including a licensed restaurant and bar.
