Melbourne freehold portfolio expects to fetch $20M

Sold either individually or in one line
Includes CBD and prime CBD fringe properties
Expected to fetch around $20 million

A three-property portfolio, including properties in Melbourne’s CBD, East, and Abbotsford, is being offered individually or in one line.

The CBD property is located at 14-16 Anthony Street, a stone’s throw from Queen Victoria Market; the East Melbourne property is at 146-152 Victoria Parade, and the Abbotsford property is situated at 231 Victoria Street.

The combined sales value is expected to be around $20 million, with Colliers‘ Head of Investments Services, Daniel Wolman, noting there is a shortage of quality stock on the market for freehold assets in the CBD and City Fringe:

“Given the shortage of stock we’ve experienced this year, the weight of demand has built up for prime assets at attractive price points based on enquiries and the interest for properties that sold in the city fringe within the same price bracket in September,” said Mr Wolman.

14 anthony street melbourne cbd — The Melbourne CBD property at 14 Anthony Street (above) is part of the portfolio being sold. Image: Supplied.

The East Melbourne property is close to both Parliament and the Royal Exhibition Building and is on the market for the first time in 24 years. The property comprises a series of three adjoining freehold buildings with triple street and laneway frontages.

Colliers’ Alexander Leggo said: “We expect interest for the assets to be from a range of different buyer profiles, particularly groups currently seeking assets that offer flexibility with an opportunity to add value through refurbishment or re-positioning.”

231 victoria street abbotsford victoria melbourne — 231 Victoria Street, Abbotsford. Image: Supplied.

The Hoddle Street and Punt Road corridor is a critical north-south link to the east of the city, with 330,000 people travelling along and across it daily, making it one of Melbourne’s busiest artieral roads.

“Aside from being unique high-exposure assets, we anticipate the city fringe properties will particularly attract owner occupiers as they support the trend of privately owned businesses’ desire to de-centralise from the CBD to work closer to home,” added Mr Leggo.

The three properties will be sold via boardroom auction on 11 November 2022.