Investa

High demand for high-tech space

Two high-tech units in Investa Property Group’s Port IT Business Park in Port Melbourne have sold for a combined amount of $1 million.

The deal, brokered by Knight Frank, included a 216m2 and office terrace which sold for $589,500, and a 114m2 office terrace which sold for $410,500.

The new owner plans to occupy one suite and lease the other with a view to occupying both at a later date.

The units are in the final and fifth stage of the Port IT Business Park in Turner Street, which offers office suites, office terraces and office/warehouses and was completed in June.

Demand for this high tech product has been steady, with 8 units already sold, 3 of these with a warehouse component.

Positioned in a prime city fringe location within minutes of the Melbourne CBD, Docklands, CityLink, West Gate Freeway and the Western Ring Road, Port IT provides a desirable and convenient commercial address for small to medium size businesses. All units have been architecturally designed with high quality facades and finishes.

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For further information contact:
Investa Property Group
General Manager – Marketing, Katie Barton-Harvey
on 02 8226 9391 or 0427 234 862, kbarton-harvey@investa.com.au

About Investa Property Group
Investa is one of Australia’s largest owners of commercial real estate. Headquartered in Sydney, Investa has management & development offices in Melbourne, Brisbane & Perth.

Since its inception in 2000, Investa has grown to control real estate assets of approximately AU$8.1 billion (as at 30/09/09). In 2008, Investa won Australia’s most prestigious prize for addressing climate change, the Banksia Climate Change Award.

Investa has proven experience in three key business areas:
•   Commercial Office Group
Investa boasts a fully integrated commercial real estate business. Investa buys, sells, owns, develops and manages high-quality office buildings in premier locations in Australia’s capitals. This end-to-end business model gives Investa the ability to ensure optimum quality and performance of its properties and its property services.

Earlier this year Investa signed what is believed to be Australia’s largest leasing deal in the history of commercial office transactions for over 115,000m² of office space with Telstra. Recently Investa also undertook the biggest development deal to be completed in Sydney this year with the sale of Kindersley House, 33 Bligh Street to EnergyAustralia.

•   Funds Management
Investa manages a range of wholesale and retail property funds on behalf of over 4,000 clients, who encompass institutions, superannuation funds, industry funds and retail investors.

•   Land Development
Investa undertakes commercial, industrial and residential development in select locations across Australia. Investa’s residential land developments encompass broad-acre subdivisions in New South Wales, Victoria, Queensland and Western Australia.