The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
2
print
Print
RetailWed 07 Nov 18

Invicta House Hits the Market for $40 Million

7bf00b69-d6f3-43f1-8827-e24232446ba8

The 100-year-old Invicta House, a freehold asset in Melbourne’s CBD, has hit the market expected to garner buyer interest from $40 million.

The seven-story commercial building, owned by the Lazarovits family, located at 226-232 Flinders Lane, is currently home to a Victoria Police station and Greenhouse Backpackers.

The offering comes as strong employment growth and positive business confidence continue to support office investments in major capital markets.

Colliers International says the asset is suited to investors, owner-occupiers and developers seeking to capitalise on the up-side flexibility of the CBD property.

Colliers International’s Daniel Wolman, Matthew Stagg and Oliver Hay have been appointed to broker the deal.

“The stunning character building benefits from a prime location and flexible capital city two zoning which enables a variety of exciting investment, value-add and development opportunities to be explored,” Stagg said.

“There are opportunities to add value by activating the ground floor retail, redeveloping into a boutique hotel, refurbishing for office use or converting for serviced apartment or residential conversion (STCA).”

The strength of the office market combined with the scarcity of CBD properties available has created significant pent-up demand. The office vacancy rate for Melbourne CBD is four per cent, the lowest in 30 years, according to the latest Dexus Real Estate Quarterly report.

Invicta House offers 15sq m retail tenancy on the ground floor.

The gross building area is approximately 6,482sq m with an underlying land area of 741sq m along with 18.22 metres of street frontage to Flinders Lane.

Invicta House is being offered for sale by international expressions of interest closing Wednesday 12 December.

RetailResidentialOfficeHotelAustraliaMelbourneReal EstateSector
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
The property giant has paid $315 million for shopping centres in Melbourne and Sydney as its repositioning gains steam… …
LATEST
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
2 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/invicta-house-in-melbourne-cbd-hits-the-market-for-40m-