Building hits the market in the centre of Melbourne’s CBD

MELBOURNE, 15 July, 2024 – JLL has been appointed to market 301 Flinders Lane, Melbourne, a significant building located in one of the Melbourne CBD’s most vibrant precincts.

A landmark in its immediate locale, it is surrounded by bustling cafes, eateries, and bars, and close to public transport and the Melbourne CBD’s retail core.

JLL agents Josh Rutman, Nick Peden and Mingxuan Li are handling sale via an expressions of interest campaign.

Spanning seven floors, 301 Flinders Lane enjoys three street frontages, providing plenty of natural light to all 4 sides.

Formerly the home of Victoria University, the building has been reconfigured to accommodate individual tenants on a floor by floor basis. Four of the seven floors are leased, with an estimated fully leased net rental being $1,850,000 per annum.
JLL Head of Capital Markets, Victoria Mr Rutman, said: “301 Flinders Lane is the centrepiece of a high-profile entertainment and education precinct and is close to the Collins Street financial district.”

JLL Capital Markets Director—Victoria, Mr Peden, said the property has strong existing income and significant potential for rental growth in the future.

“This is a rare Melbourne CBD freehold that allows the buyer to owner occupy, invest or develop,” he said.

Mr Peden said the classic freestanding office building offered 4747 sqm of floor space and had undergone recent upgrades.

“The 895 sqm site has untapped future development potential,” he said. “Major corporations surround the high profile Central CBD location and has the potential upside through rental reversion, retail reconfiguration and future redevelopment.”
The property, expected to sell for around $35 million, will likely appeal to local and offshore investors.

301 Flinders Lane, Melbourne is For Sale by Expressions of Interest closing Thursday 8 August at 2 pm