Telstra is putting a small exchange facility on the outskirts of Melbourne up for sale in a sale-leaseback deal.

The Australian telco is putting 12 Lambourne Avenue in Rowville, a residential area of east Melbourne, on the market.

Telstra 12 Lambourne Avenue Rowville Melbourne.jpg
– GrayJohnson

A listing on Real Commercial by GrayJohnson describes a single-story 133 sqm (1,430 sq ft) brick building on a total landholding of 865 sqm (9,310 sq ft). A listing price wasn't included, but RealEstateSource suggests the property could sell for around AU$850,000 (US$587,400).

According to the listing, Telstra is suggesting a lease of up to two years, at AU$22,000 (US$15,200) per year.

“Currently operating as a Telstra facility, the property offers rental returns from settlement and a range of future options,” said the GrayJohnson listing.

After Tesla ends the lease and exits the facility, a single-resident dwelling townhouse could be considered, according to GrayJonson agent Rory White.

Telstra sold one of its core data centers to Centuria in 2020 in an AU$417 million, 30-year sale-leaseback deal, and then sold a Sydney Exchange the same year for AU$281.5 million 10-year sale-leaseback. Also in 2020, the company sold land at the back of an exchange in the Hampton Park area of Melbourne for more than AU$460,000.

The following year, the company sold exchange sites in the Springvale and Point Cook areas of Melbourne. Last year, the company sold land adjacent to an exchange in Sydney for AU$4.7 million.

Expressions of interest for the Rowville site are to be submitted by March 1st.

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