For Sale $19.7 Million with development potential STCA

Collins St, Noteable building, Land area 660m2 approx

Building area 3,747m2 approx, 7 levels, comprising Retail and Office.

Average floor sizes 650m2, air-conditioned and heated, three lifts.

A prominent building which has a magnificent facade and very close to Trains and Trams. Nabers Rating is 3 Star.

Currently more than half the building is vacant, with a current passing rent of approx $700,000 to National retail tenants, expected potential rent of circa $1.4 million when fully let.

Development potential (STCA) to build a 30-40 level office/retail, or residential tower, whilst retaining the existing facade on the lower levels, a longer settlement may be possible.