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

Flight Centre Group

Shakespeare Property Group

Commercial 1

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

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

Sold By
Paul Burns - Fitzroys
+61 412 244 274
436 St Kilda Road, Melbourne
Sold Off Market to Local Investment Group

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.

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