24/03/2020 - 15:49

Cedar Woods settles $26m Melbourne office sale

24/03/2020 - 15:49

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Cedar Woods settles $26m Melbourne office sale

Cedar Woods Properties has completed a $26 million sale of a commercial asset at its Williams Landing estate in Melbourne, with the recently completed Emergency Communication Facility sold to Hellenic Property Investments.

The 3,126 square metre building was pre-sold in 2018, and was pre-leased to the state government of Victoria under a 15-year deal.

Cedar Woods managing director Nathan Blackburne said the building played a vital role in emergency call and dispatch services in Victoria.

“The Emergency Communications Facility is a valued addition to Williams Landing and a credit to the Cedar Woods team, the Victorian state government and builder partner Hacer,” he said.

Mr Blackburne said Cedar Woods held about 17 hectares of undeveloped land at Williams Landing, which would be converted into a mix of residential, retail and office products over the next decade.

“The project’s master plan will continue to be an important element of our strategy to grow a national portfolio diversified by geography, price point and product type,” he said.

Cedar Woods shares closed trade today up 9.3 per cent, at 28 cents.

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