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Blackstone Locates Buyer For St Kilda Road Tower

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Private equity group Blackstone is expected to sell an office tower on St Kilda Road in Melbourne to a local buyer for $90 million, according to The Australian Financial Review.

The property at 636 St Kilda Road features a 19-storey tower, Cadbury Schweppes House.

The building has undergone extensive renovations since Blackstone purchased it from GE Capital as part of a larger portfolio two years ago.

The tower is situated on a 4,533 sqm corner site and it comprises 17,049sqm of office space.

The Australian Financial Review reported that if the "deal with the preferred buyer is closed as expected, it will be sold on a per square metre basis of around $5,100".

 

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Article originally posted at: https://theurbandeveloper.com/articles/636-st-kilda-road-melbourne