The landmark 425 Collins Street office building in Melbourne has been listed for sale, with preliminary interest having already been fielded from a range of local and offshore investors.
The 5,350sqm AMP House building is expected to generate interest in the early $40,000,000s.
The CBRE Middle Markets team of Mark Wizel, Josh Rutman and Kiran Pillai has been appointed as the sole marketing agency for the property, with Expressions of Interest closing in late June.
“The property offers a strong ground floor retail component in addition to well leased office floors, complemented by a highly productive car park, located at the rear of the building," CBRE Director Mark Wizel said.
The listing follows significant interest in sub $100 million Collins Street assets over the past 18 months.
CBRE’s Josh Rutman said local investors had ploughed in excess of $200 million into Collins Street property over this time period – outbidding a growing bevvy of offshore buyers.
“While most commentators expected 410, 446 and 520 Collins Street to sell to offshore interests, we have seen a re-emergence of some of Melbourne's biggest private individuals and families into this space,” he said.