Liberal Party of Australia (Victoria Division) hits record sale to high-end owner occupier

Colliers International sees high demand for east-end blue chip real estate

The Liberal Party of Australia (Victoria Division) has sold 104 Exhibition Street (corner Lt Collins) for an impressive price of approx. $16,100 per square metre on net lettable area.

Colliers International Melbourne City Sales team of Daniel Wolman, Matt Stagg and Oliver Hay sold the site for $37.1million.

“With an expected price of over $30million, the campaign saw over 110 genuine enquiries and received 10 strong and reputable bids,” Mr Wolman said. “The demand for this asset shows us the true strength in the Melbourne property market with aggressive offers coming from Local Private Investors, Offshore Investor and Listed Institutions.

“The final bidder was a very high-end luxury retail brand who have purchased the building with plans to owner-occupy for their Melbourne head quarters.”

The purchaser was represented by King Independet Property Advisers.

Mr Stagg added: “With high profile ground floor tenants, and being located in one of Melbourne’s most blue chip corner locations, it is no wonder that several offers came in with a return of circa 3%. The growth potential in the East End of the CBD is forecasted to contiunue with vacancy rates at 1.4% and the new $1.8 billion development being constructed by QIDC directly across the road.” 

After 30 years occupying the space, the Liberal Party of Victoria will be vacating the premises at the end of 2019 with time and plans to find a new office.

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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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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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Oliver Hay

National Director | Melbourne City Sales

Melbourne CBD

Oliver is an experienced 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 holds a Bachelor's Degree majoring in Construction Management from the University of Melbourne.

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