With 2024 well under way, investor attention is being drawn to 10 Queens Road, Melbourne – a gem among the city fringe's most iconic boulevard, being offered to the market for sale.

Nestled alongside Melbourne's luxurious residential boulevard, with a commanding view of the esteemed Albert Park Golf Course, the property stands as a beacon of significant opportunity.

Oliver Hay, Daniel Wolman, and Leon Ma of Cushman & Wakefield Melbco Middle Markets have been exclusively appointed to handle the property's sale through an International Expressions of Interest campaign.

Oliver Hay, International Director at Cushman & Wakefield, said, "As interest rates stabilise, we anticipate heightened investor appetite, especially in the wake of Melbourne's increasing immigration and transformative projects like the Metro Tunnel reshaping the CBD and City Fringe.

"10 Queens Road presents an exclusive prospect for potential investors, showcasing a distinctive opportunity for rental and ESG enhancement. The property boasts tenancies with short-term leases, offering investors the chance to capitalize on both immediate and long-term gains.

“The asset's potential for improvement not only establishes a robust foundation for future enhancements but also positions it strategically for capital growth and sustained income opportunities, aligning seamlessly with prevailing tenancy demands and market trends."

The 19-story office tower, situated on an expansive land parcel exceeding 2,300 sqm features flexibility with a diverse income stream from multiple tenancies and a strategic 50% lease to LK Property Group.

The property's versatile nature lends itself to various end-users, from corporate headquarters for owner-occupiers to development potential encompassing residential conversion, build-to-rent, hotel, service apartments, and aged care facilities.

While quantifying the value of such tightly held real estate proves challenging, expectations for this exceptional property surpass $50 million.

The exclusive offering targets local and international high-net-worth private investors, as well as institutional investors seeking one of the most adaptable investment opportunities of 2024.