Neighbouring Property In Alexandria Purchased To Create 1.1 Hectare Precinct

21st February 2018

Tipalea Partners has acquired 23 Bourke Road, Alexandria for $24.5 million. The site was marketed by CBRE and purchased from multi-national gaming company Aruze Gaming.

Tipalea intends to conduct a refurbishment and re-leasing of the property.

Tipalea’s neighbouring property at 29 Bourke Road is soon to be redeveloped into a 10,000 m2 commercial office building and it is thought that 23 Bourke Road will ultimately become Stages 2 and 3 of this new commercial precinct. 23 Bourke Road can accommodate 12,000 m2 of commercial space.

The combination of 29 and 23 Bourke Road creates a 1.1 hectare precinct only 450 metres from Green Square Train Station.

Alexandria is undergoing a rapid transformation from its industrial roots into a commercial hub and high-density residential village which has shown very strong rental and capital growth.

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