Mario Salvo to Sell 128 Exhibition Street, Melbourne, After a Year

HIGH rise apartment developer Mario Salvo has decided to sell a CBD office investment he purchased at a low point in the commercial property market last year.

Mr Salvo can expect around $17.5 million, sources say, for the 38-year old, 11-level, 4781 square metre office at 128 Exhibition Street. He paid AMP Henderson Global Investors $15 million for the asset last October.

The building is opposite what was the Southern Cross Hotel, which has been recently been redeveloped into a high rise compound with a new retail laneway and offices off both Exhibition and Bourke streets.

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