A Lendlease-managed fund sells a B-grade office building on Little Collins Street in Melbourne for less than half the price paid about four years earlier. All three outlets report the property sells for a figure below the $83 million the fund paid in a post-pandemic acquisition. The coverage describes the transaction as reflecting a sharp decline in office asset values and demand for lower-quality commercial space in the central business district. The building is characterised as “B-grade” and is located in a prominent city location. While the reports focus on the sale price relative to the prior purchase price, they do not provide significant additional context such as the exact sale figure, the buyer, or the building’s occupancy or redevelopment plans. Together, the articles portray the deal as an example of how pricing for Melbourne office assets has shifted since the earlier purchase, with the fund crystallising losses by selling the asset at a substantial discount.
Lendlease fund sells Little Collins Street office for under half its post-pandemic price
A Lendlease-managed fund sells a B-grade office building on Little Collins Street in Melbourne for less than half the price paid about four years earlier. All three outlets report the property sells f...
- A Lendlease-managed fund sells a B-grade office tower in Melbourne’s Little Collins Street.
- The sale price is reported to be less than half of the $83 million the fund paid about four years earlier.
- The prior purchase is described as occurring in a post-pandemic period.
- The deal is presented as indicative of reduced value for office assets in the city market.
- All sources describe the property as a lower-quality (“B-grade”) office asset.
A tower in Little Collins Street has sold for less than half of its $83 million post-pandemic purchase price.
3 hours agoA tower in Little Collins Street has sold for less than half of its $83 million post-pandemic purchase price.
3 hours agoA tower in Little Collins Street has sold for less than half of its $83 million post-pandemic purchase price.
3 hours ago
Charity alleges Russian forces deploy booby-trapped items in Ukraine
A charity, Hope For Ukraine, alleges that Russian forces under President Vladimir Putin are dropping booby-trapped items...
Brisbane Times quiz asks readers to guess director of new film The Odyssey
Several outlets, including The Age and the Sydney Morning Herald, publish the same brief entertainment quiz item from th...
Man accused of killing mother in Hayes after breaking into home
Daniel Sean James, 46, is accused of murdering Kirandeep Kaur, 24, after allegedly breaking into her home in Hayes, west...