This 16-storey office building stands as a beacon of opportunity in Melbourne's bustling Central Business District at the vibrant intersection of Queen Street and Flinders Lane.
The building sits on a freehold island site of 917 sqm, with 9,156 sqm of net lettable area. With retail space on the ground floor, functional floorplates and brand-new fitted suites, it caters to an extensive range of commercial tenancies and profiles.
The property is being sold with a range of blue-chip commercial tenants in place including 7Eleven, Sculpform and Lavazza Australia. It currently generates a fully leased net income of more than $4.6 million.
Daniel Wolman, International Director & Co-Head Investment Sales, VIC at Cushman & Wakefield, said that the property will be hotly contested by investors given the location, income profile and value-add potential.
"50 Queen Street is an exceptional investment asset, combining prime amenities and impressive street frontage across all boundaries of the island site.
"It is poised to attract a diverse mix of local and international investors, from those seeking strong leasing covenants and stable income to those looking to unlock further value through upgrades, conversion to living or event redevelopment.”
Patrick Lardi, Chairman STRE Management Group said “50 Queen Street has been a very stable investment for our investors also through the recent down of the cycle. For us, it’s time to exit this investment and look for other opportunities.”
Mr Wolman added “With the anticipation on several interest rate cuts being imminent, STRE have chosen the perfect time in the market to offer an asset that has so much potential as the market sentiment is the most optimistic we have seen since 2021.”
The property is being offered for sale via an international expressions of interest campaign, managed by Cushman & Wakefield’s Daniel Wolman, Oliver Hay, and Leon Ma, together with Teska Carson’s Ion Teska, Matthew Feld, and Adrian Boutsakis. The campaign closes on Thursday 20 March 2025, at 12 PM (AEST).
