146-156 Wellington Street Collingwood VIC 3066

Colliers sold 'The Dream Factory' 146-156 Wellington Street,
Collingwood prior to launching an on-market expression of
interest campaign. Offered for sale for the first time in 23 years,
the property is an iconic part of Collingwood's rich architectural
heritage. The Commercial 2 Zoned former warehouse building,
which required refurbishment, comprises a mixture of open-plan
office and theatre/workshop accommodation which made it the
perfect fit for the HQ requirements of a local owner occupier.

Colliers negotiated a deal which reflects a land rate of almost
$10,000/sqm, one of the strongest results for a Commercial
2 Zoned asset in Melbourne's city fringe achieved this year.
This owner occupier was able to act swiftly and successfully
purchased the asset with 5 business days settlement term.

This transaction reinforces the dominance of owner occupiers
who have accounted for 62.5% YTD* of acquisitions in the city
fringe as well as their ability to undertake their due diligence and
transact in a timely manner.