A fully-leased office building in the Melbourne CBD has been sold via an off-market private tender by agents of Allard & Shelton.

The building at 446 Collins Street, Melbourne, is comprised of approximately 5543.5 sqm and according to Cityscope, its tenants include Jeffrey Thomas & Partners chartered accountants, Strategic Sports & Recreation, Melbourne International Fellowship and Bicycle Victoria.

It is understood that the property generates and annual rental income from its eleven storeys of offices and ground floor retail tenancies of $1.5 million.

Allard & Shelton director, Joseph Walton, declined to comment on the property’s purchaser or sale price, citing strict confidentiality agreements.

“The six-week tender process targeted a group of private buyers and institutional investors, with a particular focus on high net worth private individuals,” said Mr Walton.

“The transaction underpins a growing positive sentiment in Melbourne’s $20 million-plus office market.”

by Mark Bristow: Tuesday November 17, 2009