Lendlease list Melbourne office after refurb
Lendlease has listed one of a couple of neighbouring Melbourne CBD offices acquired three years ago from the Werdiger family.
With two components, developed in 1969 and 1990, 459 Little Collins Street with 9912 square metres – all of which has been refurbished – is expected to trade for over $50 million.
One element’s revamp has been branded ‘creative’. The other is ‘corporate’.
The lobby connecting them was also refurbished as has been ground floor retail.
Lendlease upgraded end of trip facilities.
There are also 13 basement car parks.
Income, upside
Near the city’s legal and financial precinct, 459 Little Collins St occupies 1053 sqm also exposed to Gurner’s Lane, Temple Court Place and a right of way (continues below).
Zoned Commercial 1, use could be repurposed to apartments, education, hospitality or medical, amongst others.
“This is the kind of asset that doesn’t come up often, a true island site with scale, flexibility and multiple exit strategies,” Cushman & Wakefield’s Daniel Wolman, who is marketing 459 Little Collins St with Oliver Hay and Leon Ma, said.
“We’re seeing interest from groups looking to reposition the building but also from developers exploring strata sell-downs or even full redevelopment,” according to the executive.
Lendlease bought 459 Little Collins St with the ex-AON House at 440 Collins St from the Werdiger family.
For years prior to 2019 the offices were held by the Lederman family.
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