Dymocks sells major Melbourne office
Dymocks Group is close to selling a major Melbourne office held 11 years.
Kokoda Property Group is speculated to be paying about $80 million for 441 St Kilda Road following an off-market deal.
On a double block – 6070 square metres – abutting Fawkner Park to the east, it contains an eight level 16,128 sqm of A-grade office area and 334 car parks.
An apartment project is expected.
Dymocks paid Centuria $82.1m.
Cushman & Wakefield’s Oliver Hay and Daniel Wolman are speculated to be responsible for the on sale but declined to comment (continues below).
The deal, which is yet to settle, comes three months since we reported Solomon Lew paid a speculated $90m for 417 St Kilda Road, also on a double block – 6071 sqm.
That seller was Mapletree which paid Chris Langford’s Newmark Capital $144.4m in 2017.
Also this week, we are reporting Kokoda Property Group bought an ex-Savings Bank last trading as the Saint Hotel, at 54 Fitzroy St, St Kilda.
A refurbishment is planned for the three level venue, offloaded by a receiver for Jon Adgemis’ Public Hospitality Group.
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