A development company affiliated with Toll Holdings managing director Paul Little says it is deciding a new future for a prominent but unattractive 11-level South Yarra office building it bought for $33 million in September last year.

Stockland will cut its losses and sell a portfolio of near-new industrial warehouses for about 15 per cent less than the price it paid two years ago.

Residents at Southbank’s Freshwater Place and Eureka Towers can breathe easy.

The 1929 apartment block formerly known as Belvedere, and beamed around the world in the defunct television series The Secret Life of Us, is for sale as a whole.