Office building in South Melbourne with development potential changes hands for $5.5 million

A standalone office building in South Melbourne has sold for $5.5 million.


The freehold building at 9-11 Palmerston Crescent was sold with vacant possession having last traded for $1.1 million in 2008.

Its land area is 476 sqm with a floor area of 711 sqm.

The two-level fitted office building has potential for further development subject to council approval.

The zoning is Commercial 1.


It is close to the new Domain train station.


The selling agents were Michael Ryan, James Gregson and Joseph Walton of Allard Shelton.