One of Melbourne’s Best CBD Opportunities; Unrepeated Permit for 57-Storey Mixed-Use Tower

One of Melbourne’s Best CBD Opportunities; Unrepeated Permit for 57-Storey Mixed-Use Tower


March 2019
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One of Melbourne’s Best CBD Opportunities; Unrepeated Permit for 57-Storey Mixed-Use Tower

Colliers International proudly presents to the market this exceptional Melbourne CBD freehold, turning heads and drawing the attention of some of the world’s most significant developers and investors.

140-146 King Street Melbourne, currently encompasses a three-level office and retail building with an underlying land area of 792sqm*. The property is being offered for sale with an unrepeatable approved permit that allows for an outstanding 57 storey mixed-use tower comprising 15,215sqm of net saleable area and a plot ratio of 31:1.

This remarkable property is being offered for sale via Expressions of Interest, closing 12pm Thursday 21 March 2019.

“This is one of the most significant city-centric development sites for the year so far.” Colliers International Agent Oliver Hay commented,

“The site is positioned in the highly coveted Financial precinct of Melbourne’s CBD between Bourke Street and Collins Street and is serviced by a dense catchment of office workers and CBD residents.”

The unrepeatable permit offers the new owners scope to capitalise not only on the site’s excellent positioning, but also the surrounding infrastructure.

“The property has two valuable street frontages, with King Street exposure and rear access to basement parking via Gallagher Street; there is great value in the combined 46m* frontage that should not be understated,” Colliers International’s David Sia noted,

“Public transport is in abundance in this area as well, choose from the readily available trams, buses or trains – there is incredible potential for a landmark development to meet the strong demand for quality office / mixed-use projects in the area.”
 

Summary:

  • 792sqm* land area; currently presenting a 3-level office and retail building
  • An unrepeatable permit for a 57-storey mixed-use tower; 15,215sqm of NSA and a plot ratio of 31:1
  • Dual street frontages to King Street and Gallagher Place; with rear access to basement parking
  • AAA+ central CBD location, in the highly coveted Financial precinct of Melbourne’s CBD between Bourke Street and Collins Street

*Please note that all financials, measurements and distances quoted are approximate only.

140-146 King Street Melbourne, is for sale via Expressions of Interest, closing 12pm Thursday 21 March 2019.
 
 For further information, please contact Colliers International Melbourne City Sales.

Oliver Hay: +61 419 528 540 
Trent Hobart: +61 433 196 452
David Sia 谢忠佑: +61 430 111 223

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