Melbourne office block sells at $88,888,888

LYZ Property Group, a subsidiary of Chinese developer Hengmao Group, has reportedly paid $88,888,888 million for Computershare's headquarters in Melbourne.

The Abbotsford headquarters was sold in a leaseback deal.

It was thought the property could fetch around $80 million but fared the especially auspicious price after competitive interest.

Computershare has a seven-year, triple net leaseback with options until 2029. The starting rent will total $5.3 million annually for the two-level office building at 452-484 Johnston Street that comprises around 16,000 square metres of office space, with 485 car spaces.

The property sits on 16,920 sq m with frontage to the Yarra River.

A Chinese family family paid $8,888,888 for a small office building on Melbourne's Collins Street last year.