Newmark Property Group

Challenger Sells 417 St Kilda Road, Melbourne, For $80 Million

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Real Estate News - Victoria
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Thursday, 13 September 2012 00:25

INVESTMENT manager Challenger has offloaded a major St Kilda Road tower in an $80 million deal.

The 10-level, 20,000 square metre A-grade office at #417 (pictured, right) has been purchased by syndicate Newmark Property Group, headed by ex Lend Lease and Mirvac executive Chris Langford and Simon Morris, previously director of the Peninsula Development Group.

The sale price represents a high yield of about 9 per cent. For years known as the Mobil building, 417 St Kilda Road includes Oracle and the Red Cross as major tenants.

Last Updated on Sunday, 21 December 2014 21:12
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