Uniting Church Offloads CBD Offices
Another Little Collins Street building in the Melbourne CBD has changed hands, with the Uniting Church selling its offices to developer Golden Age Group for more than $40 million.
The 3,711sqm, eight-level building at 130 Little Collins Street, also known as Uniting Church Centre, has ground floor retail and sold with a permit for a 27-level, 184-room hotel designed by Elenberg Fraser.
The Uniting Church had struck a development agreement with Jonathan Hallinan’s BPM in 2015 for the 605sqm site, and eventually gained approval for the hotel project last year.
The Uniting Church is moving to Charter Hall’s Wesley Place project on Lonsdale Street when it reaches completion next year.
Recently on Little Collins Street, co-founder of construction software firm Aconex, Rob Phillpot, acquired the adjoining buildings at numbers 37 and 39-41 for a combined $22.35 million.
The three-level building at 37 is leased to tapas venue Bar Lourinha on the ground floor, and the two-level building next door is home toItalian restaurant Lupino.
Summit House Continues Eastern Suburbs’ Office Climb
The three-level, 3,472 sqm Summit House has sold to Brisbane-based investors for $20 million in the latest eastern suburbs office building transaction.
Opposite Westfield Doncaster, the 90-96 Tram Road property has a site area of 4,097sqm and 123 car parks and brings in $1.2 million per annum. It traded with a permit for an eight-level development.
The deal follows Long Yang Holdings paying $11 million for the fully leased three-level 1,861sqm building at 19 Shierlaw Avenue in Canterbury, at a 5.3% yield.
Disclosure: The weekly Fitzroys Property Wrap is for information only on transactions in the Melbourne property market. Fitzroys provides this information as a public service. We are not purporting that all sales and leases within this report were transacted by Fitzroys. Terms/Privacy © Copyright 2019 Fitzroys.