RETAIL SPOTS SNAPPED UP AT EXO

RETAIL SPOTS SNAPPED UP AT EXO

INVESTORS have snapped up the remaining nine retail spaces at the base of the EXO apartment building, amid growing interest in Melbourne's Docklands precinct.

Located at 860 Collins Street, the last 140sqm shop at the Lend Lease-owned development was sold to a private investor for $1.13 million.

It follows the recent sale of the 251sqm corner site at EXO for $2.51 million, which has been leased to Flight Centre for 10 years.

Colliers International agents Daniel Wolman, Oliver Hay and Chris Ling finalised the sales of the properties.

Wolman says recent marketing campaigns have generated numerous enquiries and multiple offers.

"The outstanding sales results at EXO indicates the strength of the current demand for well-located and affordable retail assets underpinned by a rapidly growing population and the ever-growing commercial office population at Victoria Harbour," Wolman says.

"Anchored by the national headquarters of ANZ, NAB, Lend Lease and Myer, Victoria Harbour is becoming increasingly sought after."

The nine ground floor shops at EXO vary in size from 85sqm to 402sqm, with a diverse mix of tenants.

Wolman says growing foot traffic from new commercial office tenants has been driving investment activity in the area.

"Since its completion in mid-2013, EXO at 860 Collins Street and the Victoria Harbour precinct more broadly, has undergone significant uplift and growth as a result of Melbourne's increasing population and the CBD growing towards Docklands with more affordable retail and office space," he says.

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