MELBOURNE – A rare island site in Melbourne’s CBD is set to hit the market, offering investors and developers a chance to secure a strategic foothold in the city’s tightly held core.
The 15-storey office building at 459 Little Collins Street sits on a 1,053 sqm* parcel with four street frontages and 9,912 sqm* of net lettable area, a scale and configuration seldom seen in the CBD grid.
The property is expected to attract strong interest from private capital, syndicates and offshore groups looking to reposition or repurpose the asset, which sits between the legal and financial precincts in what’s often referred to as the “New York end” of the city.
With flexible floorplates, a recently refurbished lobby, upgraded end-of-trip facilities and a mix of spec suites, the building is well placed for a leasing uplift or a broader value-add strategy.
For sale through Daniel Wolman, Oliver Hay and Leon Ma of Cushman & Wakefield, the Capital City Zone 1 (CCZ1) zoning allows for a wide range of future uses, including office, education, medical, accommodation and hospitality (STCA).
“This is the kind of asset that doesn’t come up often, a true island site with scale, flexibility and multiple exit strategies,” said Daniel Wolman of Cushman & Wakefield.
“We’re seeing interest from groups looking to reposition the building, but also from developers exploring strata sell-downs or even full redevelopment.”
The building includes 13 secure basement car parks and ground-floor retail tenancies, with a total of 130 metres* of street frontage across Little Collins Street, Gurners Lane and Temple Court Place. It’s within walking distance of Southern Cross, Flinders Street and Flagstaff stations, and surrounded by laneway retail and hospitality.
Oliver Hay of Cushman & Wakefield said the site’s prominence and flexibility made it a standout in the current market.
“459 Little Collins is one of the few remaining opportunities to secure a standalone landholding in the CBD with this level of exposure and potential,” Hay said. “It’s a strategic play for groups looking to capitalise on Melbourne’s long-term growth story.”
459 Little Collins Street is offered for sale by Expressions of Interest closing on Wednesday 11th March 2026 at 2pm.
For more information on this opportunity or to arrange an inspection, please contact the exclusive selling agents.
Daniel Wolman | +61 412 957 839
Oliver Hay | +61 419 528 540
Leon Ma 马海翔 | +61 417 070 725
*Approx.
