Colliers and Knight Frank have successfully sold 468 St Kilda Road, one of St Kilda Road's best office buildings, on behalf of Australian Unity Office Fund to Bayley Stuart for $42,550,000. 

Colliers' John Marasco, Matt Stagg, Anna Cavar, Knight Frank's Trent Preece, and Tom Ryan brokered the transaction.

468 St Kilda Road comprises a 14-storey B-grade office building with ground floor retail, basement car parking and a total net lettable area of 11,210sqm. Occupying a prime 2,318sqm site within a Commercial 1 Zone, the property is just over two kilometres south of Melbourne's CBD and 800 meters from the upcoming ANZAC Station, which is set to open in 2025.

The building is anchored by high-quality tenants such as TLC Aged Care, who lease two floors plus building naming rights. It is approximately 75% leased with a 2.5-year WALE. 

Matt Stagg, Head of Investment Services at Colliers Victoria, said, "The property received strong interest from multiple buyer groups, including local and international investors, commercial owner-occupiers and residential developers. Trading on a capital value of $3,795 per square metre (Approx/ including cars) of net lettable area, it presented a compelling counter-cyclical office investment given the quality of the building".

Trent Preece, Partner, Head of Institutional Sales, Victoria at Knight Frank, said, "468 St Kilda Road is the largest office investment transaction to be completed in 2025 in Melbourne and the first genuine office investment sale along St Kilda Road in over three years. The asset was well sought after for its strong occupancy and prime location at the northern end of St Kilda Road. Buyer depth has significantly improved over recent months, and St Kilda Road offers strong medium-term growth potential, with office withdrawals for residential development driving the vacancy rate down. Andrew MacGillivray, Managing Director of Bayley Stuart, highlighted the firm's deep-rooted history and expertise in the St Kilda Road precinct, reinforced by a strong track record in the area. "We are thrilled to return and secure a quality asset with high-calibre anchor tenants on compelling metrics.

468 St Kilda Road has consistently performed well due to its flexible floorplates that are ideal for SMEs, impressive views and prime location, now set to benefit from the evolving Anzac Train Station precinct.