Melbourne CBD building sold for $5.5 million: Fitzroys
A standalone building in Melbourne’s CBD has changed hands for circa $5.5 million.
The 422-428 Queen Street property is on a 236 sqm peninsula site and comprises a ground floor café and level one office space. It has an area of 550 sqm.
The price tag reflected a building rate of around $10,000 per sqm.
The deal was brokered by Fitzroys’ Rob Harrington and Louis Christou of Christou & Co.
The agents said the site offered long-term investment and development potential, owing to its position opposite the iconic Queen Victoria Market and three street frontages, including to Franklin Street.