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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.
 

Related Experts

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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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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