Four prime Collins Street office and retail assets hit the market

JLL’s Melbourne CBD Sales team have been appointed to sell four properties at 420 Collins Street in the heart of the Melbourne CBD in a rare opportunity to secure real estate in Melbourne’s most prestigious address.

The properties which total 1,361sqm include three whole office floors and a ground floor retail shop, are being offered for sale individually or in any combination.

The properties are part of the former Victory Offices business and are being sold on behalf of partners at Grant Thornton Australia in their capacity as the Agents for the Mortgagee.

JLL Melbourne CBD Sales agents Nick Peden, Tim Carr, Josh Rutman and Mingxuan Li are offering the opportunity via an expressions of interest campaign closing Friday 5 May at 2pm AEST.

Mr Peden said it is an extremely rare opportunity to be able to acquire multiple whole office floors and prime retail within one of the Melbourne CBD’s most highly sought-after buildings that will appeal to investors and owner occupiers.

β€œBeing located directly opposite the recently completed $1.25b β€˜Collins Arch’ development, this whole precinct has been entirely transformed” he said.

Mr Carr said 420 Collins Street was in the heart of the financial district and represented a rare opportunity to purchase Collins Street property.

β€œCollins Street is Australia’s premier business address and is in high demand from both tenants and investors and is surrounded by institutional grade assets and ongoing development in the immediate precinct,” he said.

Recent whole floor office sales in the precinct are:

  • $3.5 million for 312sqm at Level 12, 256 Queen Street ($11,200/sqm)
  • $3.0 million for 338 sqm at level 8, 276-278 Collins St ($8,875 sqm)
  • $4.5 million for 420 sqm at Level 1, 20 Queen St ($10,714/sqm).

The offering at 420 Collins Street consists of the following:

  • Ground floor Modern retail space (249 sqm)
  • Level 1 Whole office floor (341 sqm)
  • Level 2 Whole office floor (386 sqm)
  • Level 9 Whole office floor (385 sqm)

The properties are offered with vacant possession and are being sold individually or in any combination.

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