Two of Melbourne’s most stunning freeholds set to be hotly contested

Colliers International to sell neighbouring freeholds at the top of Little Collins St in Melbourne’s ‘Paris End’

A high profile corner building on Little Collins Street, and the adjoining property, are set to hit the market in a rare freehold investment, owner-occupier or add-value opportunity in Melbourne’s exclusive ‘Paris End.’

Colliers International’s Oliver Hay, Daniel Wolman, David Sia and Chris Ling have been appointed to sell 37 & 39-41 Little Collins Street by way of Expressions of Interest closing Friday June 7 at 12pm. 

Spanning three levels and with triple street frontage neighbouring the Sheraton Hotel and The Melbourne Club is 39-41 Little Collins Street. Adjoining this is 37 Little Collins Street, a two-level New York-style freehold.

39-41 Little Collins Street, which has views overlooking the exclusive Melbourne Club, is currently occupied by Lupino, a Melbourne institution run by experienced and highly awarded restauranteur Richard Lodge.

Next door is 37 Little Collins Street, a classically designed, two storey brick building with stunning arched windows that highlight the striking architecture of the 1910s era. Refurbished and converted to a restaurant in 1995, it is now home to Bar Lourinha, an esteemed tapas and fine wine bar that was  recently crowned a 2019 Good Food Guide winner. 

Both of these well established venues are located in the east end of Melbourne’s CBD, an area now buzzing with everyone from workers to residents to visitors.

“The ‘Paris End’ of Melbourne’s CBD has long been Melbourne’s most esteemed location as it houses a combination of luxury retail, premium accommodation, world-class dining, top entertainment and major business hubs,” Mr Hay said.

“This places these properties within one of Australia’s most tightly held locations, where vacancy rates are virtually zero, ensuring high rents are demanded year after year. Its premium location continues to attract high quality tenants.” 

The properties are expected to attract wide-ranging interest from a diverse group of local and offshore buyers looking to invest, owner-occupy or add-value. 

“Buildings with such rich history and character are nearly impossible to come by,” Mr Hay said. 

“Having been in the same hands for 45 years and 48 years respectively, these assets present a once-in-a-lifetime investment opportunity to secure some of Melbourne’s most premium real estate, in the city’s most exclusive location. We are expecting offers in excess of $6.5 million and $3.25 respectively.

“These buildings provide a fantastic investment opportunity due to the substantial holding income,  and there is also an opportunity to explore a mix of add-value options including rooftop activation and the development of additional levels (STPA). 

Opportunities of this kind in the heart of the Melbourne CBD are rare and we are anticipating a hot contest.”

The nearby Parliament Station exposes the properties to elevated pedestrian traffic with thousands of people using Little Collins Street to make their way to and from the surrounding office buildings. Workers, students, tourists and residents frequent Little Collins Street daily. 

Melbourne’s most notable buildings including 101 Collins Street, Collins Place and the $1.4 billion 80 Collins Street are all within a 200m* radius.
 

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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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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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Chris Ling

Associate Director | Melbourne City Sales

Melbourne CBD

Chris is an Associate Director within the Melbourne City Sales Team primarily specialising in office and retail assets within the City of Melbourne. In his position he works closely with a diverse range of clients including high net worth privates, small to medium size businesses and developers. He is dedicated to exceeding client expectations while managing their transactions and providing professional, strategic advice with regards to their commercial property matters. As head of the National Strata Platform, Chris prides himself in building and maintaining long term relationships with a range of Colliers International’s national clients and liaises directly with a team of specialist agents dedicated to the strata market.

Having completed a Bachelor of Environments majoring in (Property) and achieving the Dean’s Award in the Masters of Property at the University of Melbourne, he has gained strong technical knowledge of commercial property as well as an intricate understanding of the commercial property market and the most active buyers.

 

Highlight Transactions

Aurora Melbourne Central - 224 La Trobe Street - ~$31,000,000 (circa $10,200/sqm 

Collins Tower, 580 Collins Street - $5,000,000 

Level 5, 100 Collins Street - $3,450,000

Level 4, 100 Collins Street - $3,200,000

Level 4, 306 Little Collins Street - $2,580,000

Mering House, 278 Collins Street - $2,750,000 to $2,880,000

Level 2, 55 Exhibition Street - $3,000,000

Level 9, 221 Queen Street - $3,000,000 

Lots 2 & 3, 420 Spencer Street - $2,800,000 

Shops 9 & 11, 1 Little Collins Street - $2,640,000

Level 5, 271 William Street - $2,500,000

67 Pelham Street, Carlton - $820,000

Level 5, 171 La Trobe Street - $2,465,000

Level 2 & 3, 501 La Trobe Street - $2,310,000 - $2,380,000

Level 7, 552 Lonsdale Street - $2,000,000

Half Level 4, 11-19 Bank Place - $2,300,000

Level 3, 377 Little Lonsdale Street - $2,000,000

Corner Level 2, 2 Collins Street - $1,130,000

Level 7, 313 Little Collins Street - $1,252,000

Suite 202, 546 Collins Street - $1,000,000

Suite 310, 546 Collins Street - $1,175,000

Ground Floor, 501 Little Collins Street - $1,040,000

28 Aquitania Way, Docklands - $1,675,000

18 Aquitania Way, Docklands - $1,650,000

10 Morrison Place, East Melbourne - $3,000,000

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