Shopfront in Melbourne's Bourke Street Mall listed for sale

A retail property in Melbourne's Royal Arcade is on the market for the first time in 30 years with price expectations above $30 million.

The property, 331-339 Bourke Street is currently tenanted by Bankwest and is the first Bourke Street Mall sale listing since 2004.

Colliers International’s Oliver Hay, Daniel Wolman and Matt Stagg have been appointed to the international expressions-of-interest campaign, closing Wednesday, April 26.

Mr Hay said the shopfront was anticipated to fetch more than $30 million, with its sale signalling the first transaction in the sought-after shopping strip for about 13 years.

“Bourke Street Mall has long been considered the ultimate address for an Australian trophy asset,” he said.

 Expressions of interest for Royal Arcade’s Bankwest shopfront in Bourke Street Mall close on April 26 at 3pm.