WA’s Ascot Secures Record Melbourne Metro Office Deal

An office block 17km east of the Melbourne CBD has become the biggest metropolitan office transaction for the Victorian capital in 2½ years.

Western Australian operator Ascot Capital paid $54.35 million for the Blackburn asset in a sale brokered by JLL for the 7878sq m office building at 99 Railway Road.

The building, completed in 2007, is fully leased to The Salvation Army on a 6.5 per cent yield and has almost 10 years remaining on the lease.