A freehold office building in South Melbourne has garnered significant interest at auction, eventually selling for $3.4 million.

Comprising 390 square metres of floor space, the site at 234 Albert Road is situated within a Flexible Commercial 1 Zone overlooking Albert Park.

The freehold landholding of approximately 297 square metres has dual street frontage (Albert Road and Thomson Street), and is nearby the new Melbourne Metro line (ANZAC Station) at the intersection of Albert Road and St Kilda Road, due for completion in 2025.

The sale was negotiated by Charles Emmett and Andrew Milligan, of Emmetts Real Estate.

Mr Emmett told WILLIAMS MEDIA there were about 160 enquiries for the site,  which he described as "in demand" within the current market.

"It was a pretty strong result," he said.

"We were expecting a fair amount of interest, because it is a pretty tightly held sub-market.

"We are seeing quite a lot of demand for building of that size in the sub-$10million market, especially from owner-occupiers and developers."

The building was sold at auction on April 3. 

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