Salta Sell Dulux HQ6 September 2019
Salta Properties have sold an asset in Clayton they developed for Dulux in 2007 to a high-net-worth Hong Kong investor for about $30m.
The deal on the 7,732sqm site at 1956 Dandenong Road struck on a yield of about 6 per cent, representing one of the biggest suburban office sales this year in Melbourne and highlights the appetite of Hong Kong investors for opportunities in the more stable Australian commercial property market.
The building contains 4 levels of commercial office space providing 5,732 sqm and 2 levels of basement and on-grade car parking provide sparking for over 230 vehicles.
The building is fully leased to Dulux. The transaction was brokered by CBRE.