Three storey St Kilda office slated for expected $11 million plus sale

Katherine JimenezDecember 7, 2020

A city fringe office building in Melbourne's seaside suburb of St Kilda has been slated with price expectations of more than $11 million.

The 180 St Kilda Road building is spread over three levels and is being offered for sale with pending vacant possession.

Co-selling agent Peter Bremner of Colliers International said there was a current lease in place to Austereo, with a sub-lease in place to current occupant Village Roadshow, until 30 June 2014 and no further options, "meaning a business could plan for their future in the medium to long term while receiving just over $1 million per annum in rental income in the short term".

The join agent is Jeremy Gruzewski also of Colliers.

The property sits on a 1,258 square metres freehold parcel of land and the building is described as "modern" and "refurbished". It comprises 2,951 square metres of office space, plus a 285 square metre rooftop deck and 61 car bays.

“Opportunities to purchase a building of this size with pending vacant possession in one of Melbourne’s most tightly held office markets are genuinely rare, especially for standalone buildings with such high exposure and presence," said Mr Bremner.

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