Offerings in Sydney and Melbourne landmark towers come amid evidence institutional investors are becoming more comfortable taking large positions in CBD workplaces.
With its prime position on Spring Street, above a metro entrance at the upmarket east end of town, 85 Spring Street has also been a graveyard of developers’ ambitions for almost a decade.
Owned by Grocon co-founder Bruno Grollo and two of his children, Adam and Leeanna, the 15,000 square metre building is the second substantial commercial property the trio have sold in the past year.
The next owner of a prime CBD site in Melbourne will be competing with a handful of other major projects to accommodate a new generation of post-pandemic office workers.
Share
One of the world s most powerful private real estate players is planning a $1 billion-plus office tower on Melbourne s Collins Street, in a major vote of confidence for the sector s post-pandemic prospects.
In a somewhat symbolic transaction, US firm Hines has taken control of 600 Collins Street, the site once slated to become the Zaha Hadid-designed home for the country s first Mandarin Oriental hotel.
A striking design by the late Zaha Hadid was previously mooted for the 600 Collins Street site.
Hines has dumped those plans and aims instead to build a 60,000sq m premium tower, just metres from the city s busy Southern Cross station and within the fast-developing midtown section of Collins Street.