Orion International Group lists Melbourne CBD office with development upside
Orion International Group is selling its Melbourne CBD headquarters.
The developer acquired Swann House at 22 William Street for $21.6 million in August, 2014.
Now named Orion House, the property is expected to sell for more than $45 million this time around.
Colliers International’s Daniel Wolman, Oliver Hay, Matthew Stagg and David Sia, with CBRE’s Mark Wizel, Josh Rutman and Lewis Tong, have the listing.
Built in 1921 for the State Electricity Commission, the 12-storey Orion House was constructed on the historic site where John Pascoe Fawkner, a city founder, established his first Melbourne home in the 1830s.
On an 826 square metre site at the south-east corner of Little Collins Street, 22 William Street includes 5700 sqm of lettable area, 95 per cent of which is tenanted.
The property has airspace redevelopment potential, being opposite Cbus Property’s Collins Arch, a development which rises to 39 storeys.
Mr Wolman told realestatesource.com.au that in 2018, six Melbourne CBD office investments valued at between $40 million and $100 million hit the market.
Two more have taken place this year, he added.
Last month, we reported that the Uniting Church Synod of Victoria and Tasmania sold 130 Little Collins Street to Jeff Xu’s Golden Age Group for a speculated price of $43 million.
In April, we reported that Swinburne University paid $45 million for Invicta House at 226-232 Flinders Street.
Last November, we reported that the state Liberal Party sold its long-time headquarters, the historic Centenary Hall at 104 Exhibition Street, to luxury retailer, Rolex, for $37.1 million.
