Aged care operator turned property investor, the Zig Inge Group, has offloaded an office building at the Botanicca Business Park in Richmond.
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An offshore investor has paid $10.01 million for the three-level building at 582 Swan Street.
Title deeds show the Zig Inge Group acquired it in a mortgagee deal from developer Warren Thompson in 2013 for $6.15 million
Gross Waddell director Andrew Waddell, who negotiated the deal with Jonathan McCormack, said the property attracted a lot of interest from investors.
The offshore family who purchased the property as an investment "had been actively looking for a while and this ticked all the boxes", Mr Waddell said.
The 1615 square metre building has a range of tenants with staggered lease expiries and returns $611,886 a year in rent. The deal reflected a 6.1 per cent yield.
The Botanicca Business Park was a joint venture development between R Corporation and Macquarie Bank in the early 2000s. Stages one and two were completed in 2006 and the remaining land was sold off as superlots to developers.
Surrounding neighbours will include the new national head office of David Jones, Country Road and Witchery. A 4.5 star hotel is earmarked for the park, which is near the Yarra River.
The Zig Inge Group recently purchased a red brick showroom in the historic Rosella complex in Cremorne. The group is understood to have paid more than $12 million for the property at 57 Balmain Street.
