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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

Investment Services

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

Investment Services

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

Investment Services

Melbourne CBD

Daniel is Head of Investment Services Victoria with a national role of growing the Australian Investment Services business. Transactionally, Daniel’s specialisation is in the Middle Market assets class ($20-$200mil) throughout the City of Melbourne.

Daniel joined Colliers in 2010 and quickly claimed market share of the CBD. He focuses primarily on commercial investments and value-add opportunities with a laser focus on office, retail and development sites, for which he and his team are market leaders.

Daniel regularly engages with a diverse range of clients from various sectors and consistently strives to surpass client expectation. He manages negotiations on behalf of local, national and international clients and has been involved in billions of dollars’ worth of transactions. 

Since commencing the leadership of his team in 2010, Daniel has managed to guide the Melbourne City Sales team to success year after year, continuing to be a leader in his market and achieve record transactions no other agency has managed to do. In 2021, Daniel has taken responsibility for the entire Victoria Investment Services business.

Throughout these years, Daniel has dedicated his time to many enterprising initiatives including Middle Markets, where Daniel has driven the Victorian and National business to focus on key investments predominantly in the office asset class, and Premium Investments which he has also lead from a National approach, listing and transacting assets underpinned by premium tenants.

Daniel has maintained strong relationships with clients due to his strong and transparent communication, and this is significantly prominent in his extensive track record.

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