THE sale of the Southern Finance building in Kepler Street proves it’s not all “doom and gloom” in the CBD, according to real estate agent Danny Harris.
The offices, made up of 400 square metres of floor space, sold for close to the asking price of $895,000.
Mr Harris, a Wilson Real Estate partner, said the historic building had been on the market for two months, attracting multiple offers.
He said the building was sold to local people who would use it for their own offices. “The reaction to this particular building has been quite positive,” he said.
“It probably reflects that people are looking to own their own building or site.
‘‘The way interest rates are it’s become more attractive to buy, as opposed to rent.
“There are still people that want to be there (the CBD).”
The building was put on the market in July by the finance company’s new owner Bendigo and Adelaide Bank.
The offices were the headquarters for Southern Finance’s six-branch network, which employed 37 people across the branches.
The building had been part of the local finance industry since the late 1890s.
Bendigo and Adelaide Bank acquired the loan book and other assets of Southern Finance in December last year after Southern encountered a run on its finances following the collapse of fellow non-bank Banksia Securities.