A Melbourne-based company has purchased an office located 130 Hay Street, Subiaco, for $5.375 million.

Savills Australia’s Barney Dear and Chas Moore brokered the deal saying the location was a key factor to the competitive sale.

“The office is located towards the eastern end of Hay Street, within close proximity to the new Kitchener Park High School and the Princess Margaret Hospital,” Mr Dear said.

The 1,584sq m office includes 72 car bays with rear access from York Street along with 47 percent of the building being vacant with a WALE of one year.

“The sale indicates east coast buyers looking for value in Perth, which is becoming increasingly difficult to find in Melbourne and Sydney,” he said.

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