Tollman family sell lakeside Melbourne office
South Africa’s Tollman family has sold an office held 14 years opposite Albert Park Lake.
The six storey, 1700 square metre building, 210 Albert Road, South Melbourne, collected $9.31 million.
It paid $7.2m – part for the local arm of its tourism business, The Travel Corporation, which owned, amongst other companies, Trafalgar and Contiki.
The Melbourne office was also branded Travel House.
The sale comes a year since the Tollman’s sold TCC, which it established in 1920, to US private equity giant Apollo.
The business also moved out of 210 Albert Rd.
210 Albert Road
Including 20 car parks, 210 Albert Road’s gross building area is 2285 sqm.
Upper levels capture views to Port Phillip over Albert Park Lake which can never be built out.
The 706 sqm site, zoned Commercial 1, has rear lane access.
CBRE’s Scott Hawthorne, David Minty, Jing Jun Heng and Nathan Mufale were the agents.
The building was being marketed as an investment with longer term development upside.
This part of South Melbourne is about three kilometres from Melbourne’s CBD.
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