Featured New Article - 21 October 2022

14 Jersey St

Jolimont office sells for $2.85 million

Local investors have bought a Jolimont office building with development potential for $2.85 million from a syndicate of owners. 

John and Denise Hutton, and Melanie Carrington bought the two-storey building at 14 Jersey Street from: Valeria Haskins, of Licium Pty Ltd; Maureen and Michael Lennon; Graham Igglesden and Jim Papachristos; Phillip and Keryle Thunder; and Karma C Pty Ltd and Safen Pty Ltd.

The Australian Securities and Investments Commission lists Sherry Lee and Stephen Patten-Williams as the owners of Karma C Pty Ltd, and Richard and Tracey Blow owners of Safen Pty Ltd.

The 669 square metre building sits on a 952sqm site and is tenanted by Healthtech, Horizons Surveys, Safen Pty Ltd and Karma C Pty Ptd, with some vacant offices.

The building’s total passing rent is $117,086 per annum plus outgoings and GST, and potential rent is $152,086 plus outgoings and GST.

Its zoning allows for a multi-level high density development consisting of residential, commercial, retail or medical uses.

Raine & Horne Commercial’s Terry Menage and Matthew Edwards brokered the transaction.

Mr Menage said the sale was a great result for the six sellers who banded together to achieve a premium sales price on each of their lots.

By: Claire Tyrrell