Commercial Property: Building on the corner of Union Street and Glebe Road, The Junction for sale

RARE FIND: This building on the corner of Union Street and Glebe Road offers exposure and is being sold with vacant possession.
RARE FIND: This building on the corner of Union Street and Glebe Road offers exposure and is being sold with vacant possession.

A distinctive building at The Junction which was leased by Robinson Property is headed for auction with bidding expected to start around $1.6 million.

Adam Leacy, of Colliers International, is marketing the site on the corner of Union Street and Glebe Road and expects it to attract plenty of interest ahead of its August 9 auction.

“It’s rare to have a vacant possession building such as that available really anywhere, but in particular The Junction,” Mr Leacy said.

“It’s rare in the city to have a little building that someone can move their office into because the majority of the time we’re selling properties that have tenants and the owner-occupier market have less of an opportunity to purchase.” 

The two-storey property has dual entry off Union Street and Glebe Road. The total site size is 215 square metres with building size 383 square metres.

The ground floor has a reception area, two client meeting rooms, a kitchenette, two open plan office areas and storage areas.

The first floor comprises three separate offices, open plan office area, boardroom, kitchen and amenities.

There is an internal and external deck area.

“It allows for multiple tenancies, whether it be upstairs or down or a mixture,” Mr Leacy said.

“The fit-out there is for an office but that could come out if someone wants to put in a retail business.

“The style of buyer is an owner-occupier that would use all of the building or part of the building and then rent the balance out, or a speculative investor that wants to buy the building and get a tenant.”

CHILDCARE SITE BOUGHT FOR $3.66M

A brand new childcare centre in Thornton with a 15-year lease plus options to 2053 was sold by Burgess Rawson at auction last month for $3.66 million.