570 St Kilda Road, Melbourne, VIC

The property comprises an eight level office building constructed in 1990 with an NLA of 7,737 m2 NLA and two basement levels with 143 car spaces.

Investment Strategy: An opportunity to undertake building refurbishment, re-lease vacant space, reduce building operating costs and seek lease extension and market rental reviews on major tenant leases. Asset management initiatives include full base refurbishment to all floors, a new end-of-trip facility and a ground floor café, along with lift, lobby and landscaping upgrades.

Purchase Price / Date

$23.8m / Sep 2012

Selling Price / Date

$67.6m / Jan 2022

Investor IRR Post Fees

18.1% per annum