212 King Street snapped up as hunger for CBD assets continues

Colliers International negotiates significant sale in Melbourne’s busy legal precinct

A private investor has snapped up a prominent three-level building at the heart of the legal precinct as the Melbourne CBD commercial property market continues to boom.

Colliers International’s Oliver Hay, Matt Stagg, David Sia and Daniel Wolman in conjuction with TT Globals Tony Tai have sold 212 King Street on behalf of two private owners. Agents were quoting $20million, with the property selling in excess of these expectations.

“This is the latest in a string of high profile property sales in the CBD in the first half of 2019, including 140-146 King Street which sold for $29million,” Mr Hay said. 

“The Colliers International team is receiving overwhelming interest for CBD assets particularly of larger scale. This campaign generated well over 100 enquiries and several written offers at the close of the campaign.

“On the back of current favourable economic conditions, we are working with a high number of active buyers and under-bidders on other campaigns who are eager to secure commercial assets that come to the market, particularly properties with rental upside and value-add opportunities within the Melbourne CBD grid."

212 King Street, Melbourne is a high-profile property with two dominant street frontages, an exceptional footprint of land and a net lettable area of 1,279sqm. The 569sqm parcel of land is bound by Little Bourke Street and Lonsdale Street. Combined frontages total 61.74m and ensure excellent natural light, protected views and multiple points of access.

212 King Street is located on the eastern side of King Street, between Little Bourke Street and  Lonsdale Street, within the highly coveted Melbourne CBD legal precinct.

The fully leased property is well-serviced by public transport including Southern Cross Station, Flagstaff Station and tram routes along Bourke Street and Spencer Street. 

Two ground floor retail tenancies and levels one and two are occupied by separate education providers. 
 

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Oliver Hay

National Director | Melbourne City Sales

Melbourne CBD

Oliver is an experienced National Director with a demonstrated history of working in the Real Estate industry. Skilled in negotiation, customer service and real estate transactions, Oliver is a strong operating professional who has received numerous accolades throughout his career. Oliver’s strong client relationships are proof of his success and his drive to achieve the best possible outcome for all clients is unmatched. With a focus in the City of Melbourne, Oliver has transacted some of Melbourne’s largest and most significant deals and continues to play a major role in breaking market records.

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Matthew Stagg

Director | Melbourne City Sales

Melbourne CBD

Matt Stagg has specialised in the sale of Melbourne Central Business District (CBD) and City Fringe commercial property since 2000. He has an extensive track record selling office and retail investments, development sites and commercial car parks. 

​Matt has an established client base throughout Melbourne and Australia from a variety of sectors including institutional and private investors, family offices, corporates, developers, banks, receivers and government.

He has also cultivated a network of international clients from China and South East Asia. This has directly resulted in several record transactions throughout the CBD and City Fringe to major offshore investors and developers entering the Melbourne market.

​Please contact Matt and the Melbourne City Sales Team should you be considering selling or buying a high quality commercial property in the City of Melbourne.​

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Daniel Wolman

National Director | Melbourne City Sales

Melbourne CBD

Daniel is a National Director for the Melbourne City Sales team, Investment Services and joined Colliers Interational in December 2010 where he instantly began driving both the market and his team to success. 

Daniel and his team consistently prove to be market leaders where he specialises predominately in the City of Melbourne and focuses on real estate, consisting of office and retail investments as well as development sites, student accommodation and car parks. Daniel's knowledge of the industry and strong client relationships allow him to surpass client expectations and deliver outstanding and record breaking results.

Daniel works closely with our international offices, in particular all across Asia, where he leads the Asia Roadshow for Victoria and visits several different major cities every year including Singapore, Shanghai, Macau and Ho Chi Minh, presenting current marketing opportunities to the most active offshore buyers.

As a market leader, Daniel continually accelerates the success of his clients while leading arguably the best team in the market.

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