Swann House, Melbourne sold for $21.6 million to Chinese buyers
Jonathan ChancellorAugust 17, 2014
Swann House at 22 William Street, Melbourne, has been sold by Kliger Wood Real Estate for $21.6 million.
Chinese interests secured the property after 140 plus enquiries were received from Asian, Middle Eastern and local investors.
Kliger Wood director Eugene Wood says the purchaser was a Chinese group with other recently acquired holdings in the Melbourne CBD.
The 10 level commercial office building on the corner of William Street and Flinders Lane has a gross building area of 7,000 square metre with a net building area of 5,700 square metre.
The building, which is about 90% leased at present to show a net income of $1,328,000, was marketed with potential hotel or residential conversion.
Eugene Wood gave no indication on buyer intention.
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.
