A FIRST-time property investor has paid $11.2 million for an office building at one of the south-eastern suburbs busiest intersections.

The two-level office sits on a 2439 square metre block at the corner of Auburn and Toorak roads, and is prominent around the busy Citylink freeway junction – which is also the suburb border for Malvern, Hawthorn, Hawthorn East and Glen Iris.

The building, with a street address of 461 – 465 Auburn Road, Hawthorn East, is leased for about four more years, but offers redevelopment potential, being in a pocket of the south-eastern suburbs that is seeing higher density redevelopment.

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