Little Lonsdale off to big start

Little Lonsdale off to big start
Little Lonsdale off to big start

Melbourne’s Little Lonsdale Street has set a cracking pace for the CBD’s 2017 investment statistics, with two key sales and a major listing.

563-567 Little Lonsdale Street (below) recently sold at auction for $6.63million ($19,776 per sqm) which was quickly followed by 361-365 Little Lonsdale Street (above), which sold off-market.

Colliers International’s David Sia, Oliver Hay and Daniel Wolman brokered the deal for 361-365 Little Lonsdale at $11.125million, a land rate of $18,480 per sqm, on behalf of a Hong Kong vendor.

David Sia said a private Malaysian investor purchased the leased property at a yield of 1.6 percent.

“The sale was indicaticative of long-term holders seizing the premium values achievable in the current commercial climate,” he said.

Both 563-567 and 361-365 Little Lonsdale are zoned Capital City 1 and have substantial development upside, Sia said.

Colliers International listed 102 Little Lonsdale earlier this month, a history-rich 1894 property (below) with boutique office potential.

Little Lonsdale off to big start

“This iconic residence is a premium chance to secure a truly one-of-a-kind CBD asset,” Mr Hay said.

“Each sale is indicative of a bullish market, confident in the consistent value-drivers of underlying CBD real estate,” he said.

102 Little Lonsdale Street will go to auction on April 19 at 1pm on site.

Tags: 
Melbourne Commercial Property

Comments

Be the first one to comment on this article
What would you like to say about this project?