Rolex is selling a piece of a warehouse converted strata office in Melbourne’s east end.
The fashion house should expect more than $4 million, sources say, for the 280 square metre space, level seven, 18 Oliver Lane, which runs parallel to Russell Street, between Flinders and Lane.
It paid $3.074m nine years ago, settling in late 2015.
That vendor, boutique funds manager Marks Henderson, repurposed the c1905 Sir John Monash designed building, extending it three levels, then sold it down as strata suites.
Rolex occupied the space as a service centre; functions undertaken there were recently moved to 104 Exhibition St, or Centennial House, which it bought from the state Liberal party for $37.1m in 2018 and reopened this year following a swank refurbishment.
Sale against trend
The listing comes three months since we reported Christian Dior outlaid $39m for the ex-Ivy nightclub at the south east corner of Russell St and Flinders Ln, an area marketed as Melbourne’s Paris-end, also with plans to occupy (story continues below).
The Hour Glass is a major local owner too – in 2020 spending $68m against a $50m guide for the historic 139 Collins St, at the south east corner of Russell – part leased to competitor Louis Vuitton.
Two years ago meanwhile THG paid $35m for a multi-level space tenanted to rival Balenciaga at 181 Collins St.
Last June we reported that group outlaid $82m for a low rise Brisbane CBD corner property part occupied by its Hermes brand.
Knight Frank’s Nick Bisset, Stephen Kelly and Langton McHarg are marketing 7/18 Oliver Ln.
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