My Melbourne Real Estate

THE State government has outbid a brigade of owner occupiers to snap up a hot office building in the heart of Melbourne’s south-eastern suburbs, which will eventually become home to the Melbourne Fire Brigade. The MFB has paid $6.45 million for a double-storey standalone office at 1721 Malvern Road in Glen Iris, near the train station and High Street intersection. On a block measuring 1603 square metres, the 1893 square metre building was last renovated in 2006. It includes 57 basement car parks, and currently returns a yearly rent of $523,450, mostly from tenant Preston Aviation Solutions. [...]