Pace grows commercial portfolio with Hawthorn office site
There’s no slowing down on Pace’s steady period of acquisitions with the recent purchase of a commercial development site in Hawthorn East.
"We are very excited to acquire our first site in Hawthorn East, which showcases all the credentials of a premium office location."
The 476 square metre site located at 9 Montrose Street is Pace’s first commercial development opportunity in the prestigious inner suburb of Hawthorn. It joins Pace’s established presence in Melbourne’s East, with Pace of Blackburn currently selling.
“We are very excited to acquire our first site in Hawthorn East, which showcases all the credentials of a premium office location – access to Auburn Road shopping strip, direct access to Auburn Station, and walking distance to Swinburne University,” said Pace Manager Director, Shane Wilkinson.
“Hawthorn is an ever-evolving precinct and has become a popular location for professionals, so this is an exciting development opportunity for Pace and one we’re confident will add value to the area”.
The site comes with an existing permit for a 9-storey residential building made up of 34 apartments, and a ground floor commercial space, which Pace will transform into an entirely commercial use with A-grade office facilities.