Magid's sell One Collins Street to Stamoulis

Magid's sell One Collins Street to Stamoulis
Magid's sell One Collins Street to Stamoulis

Property tycoon Harry Stamoulis has bought the One Collins Street tower complex at the top of Collins Street, Melbourne, for $125 million.

It was bought from fellow BRW rich lister Robert Magid and his sister, Nora Goodridge.

The complex comes with 17-storey modern tower overlooking Treasury Gardens and an 1870s heritage residence that served as Australia's first war cabinet room in 1914.

The Australian Financial Review says it was struck on a tight 5.25 per cent yield and at a high building rate of more than $9000 a square metre for the fully leased A-grade office complex.

The Australian says it was sold by Knight Frank.

Rabobank, Mckinsey & Co, Grant Samuel and IBISWorld are tenants at One Collins Street. 

The Magid family acquired it for $43.1 million in 1997.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Melbourne Office Sales

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