Fund managers trade 15 William Street for $167 million

Deka Immobilien has paid $167 million for Melbourne’s 15 William Street office.

The 20-level, A-grade building, occupied in the 1990s by electricity supplier, SEC, is being acquired on an 8.75 per cent.

Vendor AMP spent $25.5m in 2000; four years later completing a $100m refurbishment and extension.

The asset’s largest occupiers are accounting firm Pitcher Partners, which also has naming rights, and customer service group UCMS.

On the north west corner of Flinders Lane, one block from Collins St, the address is close to the Yarra River and Melbourne Aquarium (story continues below).

CB Richard Ellis’ Rick Butler, Mark Coster and Mark Granter marketed 15 William St.

Late last year Deka paid Stockland $53.5 million for an industrial park at Greystanes, Sydney, while a few months ago, it spent $95m on Perth’s Australian Taxation Office from Macquarie Office Trust.

Deka is understood to have another half billion to invest on Australian real estate.

The 20-level A-grade office at 15 William Street.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

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