Colliers and Knight Frank are excited to bring 468 St Kilda  Road to market, one of St Kilda Road’s best office buildings. This iconic building on the northern end of St Kilda Road offers unparalleled panoramic views of Albert Park and Port Phillip Bay. 

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. 

Comprising a 14-storey structure with ground floor retail, 13 upper office levels, and two basement car parking levels, the building features a total net lettable area of 11,210sqm. Currently sitting at a  75% occupancy rate, the property can generate an annual net income exceeding $5 million when  fully leased. 

Colliers' John Marasco, Matthew Stagg, Anna Cavar and Knight Frank's Trent Preece and Ben Schubert have the listing.

Matt Stagg, Head of Investment Services at Colliers Victoria, said, "This  property not only offers a unique investment opportunity with its strategic location and secure  income stream but also holds substantial potential for future development with its 65-metre height  control." 

Constructed in 1985 and under institutional ownership since, 468 St Kilda Road has undergone  periodic upgrades and has strong environmental credentials, with a 4.0-star NABERS Energy rating  and a 4.5-star NABERS Water rating. 

Located in the Northern Precinct of St Kilda Road, the property benefits from its proximity to open  green spaces, including Fawkner Park and Albert Park. Its advantageous position, one block north of  Leopold Street and with rear access via Queens Lane, is enhanced by its proximity to the future  ANZAC Station and existing public transport links. The Alfred Hospital Biomedical Hub further adds  to the area's appeal, driving increased demand for healthcare-related spaces. 

Colliers Capital Markets Director Anna Cavar added, "St Kilda Road is a prominent commercial,  residential, and biomedical precinct with approximately 632,000sqm of office space, which makes it  one of Melbourne's largest office markets outside the CBD. The precinct's limited new supply over  the past decades and significant stock withdrawals have created a scarcity of high-quality office spaces near the upcoming ANZAC Station, which will improve connectivity to northern and  southeastern suburbs."  

"Investors are drawn to the precinct for its attractive returns and strategic value. With ongoing  investment in existing infrastructure, the future ANZAC Station, and the potential for long-term  residential development or conversion, this area represents a unique opportunity for sustained  growth and profitability," added Knight Frank's Trent Preece.  

468 St Kilda Road, Melbourne, will be offered for sale via an International Expressions of Interest  campaign, closing on Wednesday, 25th September 2024, at 4pm (AEST). 

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