The new owner of the site is speculated to be Kaps Institute of Management, which will occupy the premises, but this could not be confirmed.
CBRE’s Mark Wizel and Sebastian Drapac marketed the property with Colliers International’s Pat Burke and Matt Stagg. It was occupied by QBE Aviation for about 15 years. QBE consolidated to offices at 628 Bourke Street earlier this year.
Two development sites in Guildford Lane were sold recently for a total of $3.7 million, and are expected to make way for new mixed-use projects, with likely ground floor retail.
Sources at the QBE Aviation auction describe bidding as highly spirited. The property was “on the market” at $5 million.