This article is from the Australian Property Journal archive
Well known radio tipster John Rothfield has sold his family’s Melbourne CBD asset at 380 Lonsdale Street for $30.5 million.
Rothfield – also known Dr. Turf and the “Schnoz” – sold the Lonsdale Street car park and office complex through Knight Frank.
The Rothfield family has held the property for almost three decades. The Melbourne family paid just $5.75 million for the complex back in 1981.
A Melbourne private investor bought the property on a yield of 7.35%.
The 445 car seven level parking station also has two floors of offices. Adjoining the property is a five-level office building, giving the overall complex 5,454 sqm of office and retail space.
In 1982, a fire severely damaged the complex, which was rebuilt by 1984.
Tenants include the Equal Opportunity Commission, Meridian International School and Peregrine Adventures. Wilson Parking operates the car park.
Rothfield also controls Chase Properties.
By Ted McDonnell
