Subi office building in $3m sale

Westminster National directors Justin Bird and Troy Tavani have purchased a three-level office building in Subiaco for $3.025 million.

Mr Bird and Mr Tavani, via Justroy Property Pty Ltd, bought the 292 Rokeby Road asset from Lateral Capital Ventures, which currently occupies the property with software company Oqea.

Subiaco-based finance broker Westminster National plans to move into the office, which has 516 square metres of net lettable area, in 12 months.

Sterling Property’s Brian Neo, who brokered the deal with Jack Bradshaw, said the transaction reflected the strength of Subiaco’s owner-occupier market.

“The property was sold to owner occupiers Lateral, a software development company nine years prior who purchased the site from owners Gavin Hegney and Associates,” he said.

“The location, parking amenity and western suburbs location proves the strength in the owner occupier markets within the fringe suburbs we continue to transact in.”

Mr Bradshaw added the property drew strong interest, with multiple cash offers presented to the sellers.

The successful bidder Westminster National has been leasing in the area for the past 15 years, with its current premises at Alvan Street in Subiaco.

ASIC records show that Justroy Holdings Pty Ltd, of which Mr Bird and Tavani are also directors, wholly owns Westminster National.