07/03/2014 - 14:52

Colliers sets CBD strata sales record

07/03/2014 - 14:52

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Commercial real estate agency Colliers International has set a Perth CBD record for strata sales, with the $5.4 million sale of an office at 160 St Georges Terrace.

The 537 square metre office is located on level three of the eight-storey 160 Central building, formerly known as Paragon, and is fully occupied by international human resources firm Ranstadt Information Technology.


The sale equates to a rate of more than $10,000 per square metre of lettable area and was brokered by Colliers International director of metropolitan markets Nicholas Agapitos.

Mr Agapitos said the sale reflected the strong demand for commercial assets in Perth’s CBD.

“There remains a shortage of quality investment stock in the market – and office premises at the west end of St Georges Terrace, recently leased and fully occupied, would sit at the top of any buyer’s wish list,” Mr Agapitos said.

“That was borne out by the extremely strong level of enquiry we had on this asset.

“There were ultimately several competing bids, and as a result, a record price was achieved.”

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