Malaysian pension fund looks to near-double its outlay offloading Melbourne office

An image of the internal staircase, used during the 2010 marketing campaign.

A modern office in Melbourne’s Docklands is for sale with price expectations of about $200 million – a substantial rise on the $113 million paid in 2010 by the vendor, Kumpulan Wang Persaraan (Diperbadankan), also known as Retirement Fund Incorporated – a Malaysia-based pension fund.

The 10-storey building at 737 Bourke Street (pictured, top and left) includes about 19,028 square metres of lettable area configured with a café, restaurant and more than 18,000 sqm of A-grade quality office area.

Occupants include Lion Dairy & Drinks Services, which owns the Pura Milk brand, valuer and advisory group, Opteon and government arm the Victorian Building Authority.

KWAP acquired 737 Bourke Street from the Grollo family’s Equiset, which developed it in 2008.

An as-yet unlaunched marketing campaign is to be managed by JLL’s Nick Rathgeber and Leigh Melbourne, according to this article in The Australian, which first reported the listing today.

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au

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