Sales Results

Sold Off-Market - 436 St Kilda Road, Melbourne

Posted on 12th May 2020



Price: $62,150,000

Net Income: $3,360,000 *

NLA: 7,506sqm

Land Area: 2,317sqm

Vendor:
Flight Centre Group

Purchaser:
Shakespeare Property Group

Zoning:
Commercial 1

Sale Process:
Off Market. An unconditional Contract was exchanged within 30 days of initial discussions.

Analysis:
Building - $8,280/sqm
Yield - 5.4%
WALE 3.7 years

Sold By
Paul Burns - Fitzroys
+61 412 244 274
burnsp@fitzroys.com.au
436 St Kilda Road, Melbourne
Sold Off Market to Local Investment Group

Description:
Fully leased 10 level office building with basement car parking for 167 bays, built in 1988. Most of the building has recently been refitted on a floor by floor basis and now presents as fully refurbished accommodation. Sold on a partial (75%) leaseback to Flight Centre who recently completed a $700m capital raising and extended their debt availability by $200m.

Location:
The property is located in the prime part of St Kilda Road, close to the new Anzac Train Station (under construction).