Becton sells Melbourne office

Becton is understood to have sold Melbourne’s 422 Little Collins Street for $16.25 million.

The developer and fund manager paid Vicland $22.2m for the office four years ago.

The incoming owner, a private investor, is picking it up on a 10.3 per cent yield.

Over eight floors it contains 5246 square metres of lettable area, 98pc of which is occupied (story continues below).

Cambridge International College is the biggest tenant.

The complex was constructed in 1990 as the RACV Club administration office.

Allard & Shelton’s Joseph Walton and Patrick Barnes represented Becton.

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Marc Pallisco

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

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