By Claire Reilly
The former head office and warehouse of Retravision Southern has sold, with administrators KordaMentha realising a final sale price of more than $3 million for the Blackburn, Victoria property.
Located on Whitehorse Road – the so-called “Golden Mile” of commercial real estate, 18 kilometres east of the Melbourne CBD – the property housed Retravision Southern’s administrative staff as well as showroom and warehousing facilities, with more than 2,400 square metres of floor space spread across two levels.
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Kosta Filinis, estate agent for Jones Lang LaSalle Industrial in Glen Waverley confirmed that the property was sold on 30 August for a final figure of “around $3.2 million”. While the agents were not able to disclose the buyer, Filinis confirmed that it had been bought by a “Chinese investor” with plans to occupy the site within the next two to three months.
According to the Filinis, the administrators were happy with the final sale price.
The sale of the property was initially announced by administrators KordaMentha following their appointment over the collapsed Retravision Southern in May 2012. Jones Lang LaSalle were appointed as estate agents in June of this year and the property was subsequently valued, however KordaMentha did not disclose the final valuation of the site pending a full sale.
The property is located near a number of retail outlets on the busy Whitehorse Road strip, including a large-format Bunnings Warehouse, Officeworks and a number of furniture outlets.
An external view of the Retravision Southern head office. (Source: Jones Lang LaSalle).
The location of the office on Whitehorse Road, in Blackburn, Victoria (18 kilometres west of Melbourne's CBD). View Larger Map