An imposing, prime grade building at the heart of the Melbourne CBD’s legal precinct is generating a buzz among local and international buyers.
Nick Rathgeber and Leigh Melbourne, of Colliers International’s Capital Markets team in Melbourne, have been appointed to sell 380 La Trobe Street by Expressions of Interest closing Thursday June 23.
The 22-level, 21,661sqm building was completed in 2003, with a commanding presence over La Trobe Street. Side-core and 1,253sqm floorplates within the building were well designed and generous in size.
The property was situated in a prime location in the Flagstaff legal precinct, within immediate vicinity of Flagstaff Train Station and all of Melbourne’s major courts – Federal, High, Magistrates, Supreme, County and others.
The highly sustainable building has a current 4.5 Star NABERs Energy Rating, with opportunities for improvement.
“A recent lease deal with an incoming building tenant for more than 8,000sqm has drastically increased the WALE of the building to 9.1 years, a level which is seldom available for a 20,000-25,000sqm multi-let office building in the Melbourne CBD,” Mr Melbourne said.
380 La Trobe Street also offered an attractive tenancy and expiry profile with a diverse spread of NLA weightings, expiries and industry types.