8-14 Hall Street, Hawthorn is an office, warehouse and showroom with an adjoining on grade car park.
Marks Henderson acquired this property for $5.7 million in April 2008 providing a return of 6% per annum on equity contributed.
The property is fully leased to Designworks Clothing Company.
This building is some 2,399 sqm with 43 on site car parking spaces. The site is strategically located some 250 metres from the Monash Freeway and Toorak Road with easy access to the Melbourne CBD and the Eastern suburbs of Melbourne.
The surrounding Hall Street location is emerging as a significant office location.
A planning permit was obtained for the development of a 5 story office building and 3 basement car park levels. The office area permitted is 7,614 sqm with a ground floor café of 326 sqm and basement parking for 253 cars and 41 bicycle spaces.
Sold for $9 million in 2015 to the Kookai Group for their Head Office. The property has generated an internal rate of return of 18% over the term of the ownership period.