The office building at 220 St Georges Terrace has been sold for $35 million, with a local private buyer purchasing the building in a deal brokered by commercial agency Knight Frank.
Offshore buyers are increasingly interested in Perth office stock, but limited assets for sale and the city's rising vacancy rate are stifling opportunities.
Rising vacancies and falling rents in Perth's CBD office market are putting tenants in prime position to score favourable deals, while the conditions could also result in potential bargains for institutional investors.
Perth's CBD office market is still proving to be attractive to offshore investors, with the office building at 130 Stirling Street sold to a Singaporean firm for $90 million.
