Melbourne Uni Pays $30 Million For New Carlton Office Building

Jones Lang LaSalle directors and marketing agents Richard Norman, Ian Treloar and Robert Butera confirmed the sale when contacted by Capital Gain, but declined to elaborate on details including buyer or price.
 
Just over two years ago, the university paid $26.4 million for a 9,500 square metre B-grade office at 258 Queensberry Street, in which it was the sole tenant paying $1.4 million annual rent.
 
In April last year, it is reported to have paid about $20 million for the Elizabeth Towers Hotel on the corner of Elizabeth and Grattan streets, while earlier this year the university paid Drapac about $37 million for the prominent City Ford site on Elizabeth Street. Both these properties will eventually make way for medical teaching and research facilities.

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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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