Sydney property: Saracens Head Hotel back on the chopping block
The first CBD auction for the year has been locked in with 387–391 Bourke Street set to go under the hammer on March 8.
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The first CBD auction for the year has been locked in with 387–391 Bourke Street set to go under the hammer on March 8.
The landlord of the blue-chip office building is back in the market buying up its neighbours to protect the tower’s views.
Just 13 freehold buildings have sold in Melbourne city in the last 12 months compared to pre-pandemic levels which saw nearly double that amount. So what’s caused the change?
During a lean year for commercial property transactions, owner-occupiers have muscled into the metro office market, buying empty buildings from private investors unwilling to spend money on upgrades.
During a lean year for commercial property transactions, owner-occupiers have muscled into the metro office market, buying empty buildings from private investors unwilling to spend money on upgrades.