The building hit the market during the week Australian social distancing measures were introduced and the campaign ran while its economy started reeling.
One of the ground floor tenants even quit its lease.
At 41-45 A’Beckett Street, the three level office and retail complex with 735 square metres of area last traded 58 years ago.
Colliers International’s Oliver Hay, Chris Ling, Leon Ma and Daniel Wolman with James Moss, of MPC, said 12 suitors, a mix with developers and owners-occupiers, made an offer after an expressions of interest campaign closed on April 24.
In the end, an investor picked it up, Mr Hay added.
The 280 square metre Capital City 1 zoned block could accommodate a 12-storey project.
Near Royal Melbourne Institute of Technology and University of Melbourne – student accommodation was a foreseeable development outcome as was a standard residential project or hotel.
In the immediate vicinity is State Library station, under construction as part of the $11 billion Metro Tunnel project which will connect North Melbourne to South Yarra via two CBD stops.
Queen Victoria Market, nearby, too, is undergoing a $250m refurbishment.
The precinct has been activated in recent years care of retail and residential developments around Swanston and Elizabeth streets.
Parkville Biotech Precinct – set to take shape in the strip of Elizabeth Street connecting the city to Haymarket Roundabout and where CSL is relocating its headquarters – is also not far from 41-45 A’Beckett Street.