Sunsuper spends c$107m for Collins Street office

The 330 Collins Street office (right) and the building it replaced.

AMP, representing Sunsuper, has paid c$107 million for Melbourne’s 330 Collins Street.

The 17-level renovated office, in which a previous owner found asbestos while undertaking what ended up being a costly renovation, includes 18,337 square metres of lettable area.

Much of the value is in the ground floor retail tenancies – on the north west corner of Elizabeth Street – like Collins, a busy, high-demand thoroughfare.

Based on the asset’s speculated annual income – $8.5m – it is trading on a circa eight per cent yield (story continues below).

Challenger Financial Services Group was the vendor.

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Marc Pallisco

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