Patricia Ilhan sells Little Collins Street premises

Patricia Ilhan sells Little Collins Street premises
Patricia Ilhan sells Little Collins Street premises

Businesswoman Patricia Ilhan has sold her Melbourne CBD investment premises to a local investor for close to $9.5 million.

The historic four-level building at 362 Little Collins Street returns annual gross rent of around $400,000.

It was formerly part of a series of buildings occupied by the city's McEwan's hardware store.

It was sold by Vinci Carbone Property.

The campaign generated over 100 enquiries for her four-level Melbourne office building set adjacent to Brookfield Multiplex's new 39 level development.

Set between Queen and Elizabeth streets, the 312-square-metre block has airspace development potential.

It was expected to sell for more than $8 million having been bought for $4.4 million in 2009.

She is believed to be selling the prime CBD property to reinvest in another commercial property.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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