Apartment owners unite, peddle Melbourne building, for $6.9m

The sale price values each of the four apartments at $1.725 million.

Owners of the four apartments within a modest complex on relatively big land, in the Melbourne CBD, have united and sold it for $6.9 million.

The double storey structure at 23-25 Coromandel Place will be replaced with an office after trading to an owner occupier.

Developed in the 1990s, and designed to complement a neighbouring warehouse-converted building – the property has a (wide) 12.7 metre street frontage and sits on a 220 square metre Capital City 1 zoned block within cooee of the landmark 120 Collins Street skyscraper.

Dexus’ $1.47b 80 Collins Street is also in the vicinity as is the 130 Little Collins Street ex-Uniting Church site which Jeff Xu’s Golden Age Group was recently permitted to replace with a 26-storey office (story continues below).

The Coromandel Place property abuts the low-rise Kelvin Club (which has a Melbourne Place address).

Colliers International’s Oliver Hay, Chris Ling, Leon Ma and Daniel Wolman represented the four vendors closing an expressions of interest campaign on July 24.

The owners of four apartments within the Coromandel Place complex have banked $6.9 million selling it.

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Marc Pallisco

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