RAIA to Start Construction of Melbourne CBD’s Next Office Building

Remaining strata-titled floors are being marketed at just over $2 million each.

Upon completion the RAIA’s building will rob aspect and light from the landmark 101 Collins Street tower which is widely considered Melbourne’s most expensive office to lease.

Rents and views at the 57-level 101 Collins Street are preserved in part by the owners decision to impose height limiting covenants on many smaller, surrounding buildings, before listing those assets for sale as investments some years ago.

However 101’s owners missed out on buying the 354 square metre 41 Exhibition Street site in 1994, which the RAIA snapped up for $1.2 million.

Alexander Robertson director and selling agent David Combes, who is marketing the suites with CB Richard Ellis, said the RAIA’s carbon neutral building will open in late 2012.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.