Prominent Melbourne CBD Corner Sells For $10.75 Million

It is expected that the new owner of the property will use the time the asset is returning an income to propose a landmark residential redevelopment. The building is in the process of being heritage listed.

All Nations pays annual rent of about $885,586 to occupy the five-level art-deco building opposite Crown Casino. On that basis the sale price reflects a yield of about 8.2 per cent. Kliger Wood’s Grant McKenzie and Russell Meerkin were the marketing agents

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of