Chinese Investor Pays $12m For Melbourne Commercial Building

An investor from China has paid $12 million for a Queen Street property in Melbourne’s CBD, in an off-market deal brokered by Savills CBD Sales Directors, Clinton Baxter and Nick Peden.

Mr Baxter said the 338 Queen Street property had sold with vacant possession on a land rate of $41,379 a square metre, which had been a very good result for the vendor. He said the fact that the purchaser had flown into Melbourne for one day to view the property demonstrated the intense demand for prime CBD properties with significant potential to add value.

The four level, 930 square metre building, which occupies a high profile position on the corner of La Trobe Street, comprises ground level retail and three upper floors of office space on a 290 square metre site zoned Capital City 1.

Mr Baxter added that as the property was sold with vacant possession it provided the purchaser with complete flexibility to occupy, convert or even redevelop.



Top stories from across the globe

  • The Future of Banking: Truth is Rarely Pure and Never Simple
  • Top Money Manager: «We Avoid Tesla Because of Elon Musk»
  • 1MDB and the Affected Banks: 100 Headlines
  • The Man Who Turned Down Marilyn Monroe
  • The Seven Conditions for Good Succession
  • The (Slow) Death of U.K. Investment Banks

PHOTO GALLERIES Networking Event Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary


Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with – email us on – All communication is completely confidential and strictly anonymous.