Liberal Party of Australia (Victoria Division) to sell blue chip Melbourne building

Colliers International expects strong contest for Centenary Hall at 104 Exhibition Street

The Liberal Party of Australia (Victoria Division) is offering for sale a six-level office building, known as Centenary Hall, at 104 Exhibition Street in Melbourne.

 

Colliers International Melbourne City Sales team of Daniel Wolman, Matt Stagg, Oliver Hay and David Sia have been appointed as exclusive selling agents.

 

The property is being offered for sale for the first time since 1976 by International Expressions of Interest, at an asking price of more than $30million (excluding GST).

 

104 Exhibition Street is situated on the corner of Little Collins Street, at the blue-chip east end of the Melbourne CBD. It is located directly opposite QIC Limited’s $1.8billion redevelopment at 80 Collins Street and SX1 Tower.

 

Centenary Hall was constructed in 1935 and features a stunning art-deco façade and period features throughout.  The six-level building comprises a gross building area of approximately 2,550sqm including prime ground floor retail, commercial accommodation, rooftop terrace and basement.

 

The prime ground floor retail is leased to three high profile tenants in Flight Centre, 7 Eleven and Subway. The upper floors are leased to a variety of commercial tenants, with the Liberal Party occupying one floor.

 

“104 Exhibition Street is currently fully leased and offers excellent future rental growth potential given the prime east end location and strong Melbourne CBD office leasing market,” Mr Wolman said.

 

“The opportunity to secure a freestanding building in the east end of the CBD is extremely rare and will be of strong interest to international and domestic high net worth private investors and family offices.”

 

Mr Stagg added: “The property also benefits from flexible Capital City 1 Zoning, enabling a variety of value-add and development opportunities.

 

“Future uses may include refurbishment, strata subdivision and construction of additional levels. Conversion to residential, hotel or hospitality use may also be explored (STPA).”


Related Experts

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 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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