This article is from the Australian Property Journal archive
PROPERTY developer City Harbour has put two A-grade office towers with heavy government tenant presence in Melbourne’s Docklands to the market.
They include the nine-level building of 15,000 sqm known as Customs House at 1010 La Trobe Street, and five-level Innovation Building of about 5,800 sqm and which includes the offices of NBN Co.
A separate car parking component is located in the podium of 1000 La Trobe Street. All three components are being offered together, in one line via expressions of interest closing 1st September.
The vendor has commenced planning for a refurbishment and repositioning of 1010 La Trobe Street, along with upgrading of the outdoor landscaping located between the two office buildings.
City Harbour is the recently rebranded company Digital Harbour, backed by the wealthy Liberman family, Qualitas and other investors.
Colliers’ John Marasco, Anna Cavar, Oliver Hay and Adam Woodward, in conjunction with Mark Coster, Kiran Pillai, Scott McGlone and Stuart McCann of CBRE are handling the campaign and expectations of about $160 million.
“On offer is a unique opportunity to acquire a 100% interest in these two buildings which have large, functional floorplates, spectacular water views and unparalleled connectivity and amenity,” Marasco said.
“They are situated on an exceptionally large underlying land area of 6,811sqm in an established government precinct with an enviable tenancy profile.
The precinct is framed by major road arterials including Citylink and is moments from CBD-bound public transport routes. It also neighbours Marvel Stadium, Southern Cross Station, and District Docklands.
A new masterplan for the City Harbour precinct has been developed incorporating a Central Park, while the Victorian state government has committed $225 million to transform the Marvel Stadium precinct.
