Collins Street, known as the heart of Melbourne's business district, continues to solidify its reputation as Australia's most highly sought-after business address. Offering unparalleled convenience, prestige, and access to a vibrant city lifestyle, Collins Street has become synonymous with success and prosperity.
Capturing the attention of tenants and investors alike, Collins Street is renowned for commanding the strongest rents and demonstrating the lowest vacancies across the Melbourne CBD, says Daniel Wolman, Cushman & Wakefield’s International Director & Co-Head Investment Sales, VIC.
“Collins Street is the epitome of a thriving business ecosystem. Its strategic location in close proximity to Bank Place, Little Collins Street, Bourke Street Mall, and the Collins Street luxury retail precinct further adds to its allure, providing an abundance of hospitality, shopping, and entertainment options just a stone's throw away” he said.
406 Collins Street, currently listed for sale through Daniel Wolman, Oliver Hay and Leon Ma of Cushman & Wakefield and Joel Wald of MMJ, is an exceptional opportunity for investors and owner occupiers seeking to establish their presence in the heart of Melbourne's business hub.
This 12-storey office building sits on a 411sqm* site, boasting a total net lettable area of 3,861sqm* and has undergone major refurbishments in recent years, ensuring its excellent condition throughout. The contemporary office accommodation, with average floor plates ranging from 339 to 364sqm*, offers abundant natural light, thanks to its high ceilings and large windows overlooking the treelined and historic aspect of Collins Street. Significant street frontage to Collins Street totals 14.5 metres*.
Mr Wolman, Cushman & Wakefield’s International Director & Co-Head Investment Sales, VIC said with a Weighted Average Lease Expiry (WALE) of 1.21 years by income and a NABERS rating of 2.5 Stars, 406 Collins Street presents an exceptional value-add opportunity, both in terms of income and Environmental, Social, and Governance (ESG) reversion.
Oliver Hay, Cushman & Wakefield’s International Director & Co-Head Investment Sales, VIC added, “Its prominent location on Collins Street and its high-quality building infrastructure offers extensive opportunities and flexibility for investors or owner occupiers seeking a prime Collins Street address for their new headquarters. Additionally, securing naming rights on a Collins Street building with a rich history adds further prestige and branding potential” he said.
Public transport accessibility is another significant advantage of Collins Street. Tenants at 406 Collins Street benefit from the convenience of Collins Street trams and bus routes, as well as the nearby Flinders Street and Southern Cross Stations, which directly service the office. This seamless connectivity ensures that businesses are well-connected to the rest of the city and beyond.
Joel Wald from MMJ said there is no better business address in the country than the premier and sophistication of a Collins Street address.
“Recently refurbished by ASX listed tenants, the building is fitted-out as a high-quality trophy asset. Collins Street assets of this calibre and price point are rarely traded and tightly held for generations” he said.
Cushman & Wakefield Melbco Middle Markets and MMJ present 406 Collins Street, Melbourne For Sale by International Expressions of Interest