COMMERCIAL PROPERTY, SALES & LEASING

La Trobe development tipped to fetch $20m

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A WILSON car park site in Melbourne’s CBD with a permit for a 33-level mixed use tower, is for sale with hopes of around $20 million.

Across 644 sqm, the property is at the rear of 58 La Trobe St and is being marketed through CBRE’s Mark Wizel, Lewis Tong, Julian White and Nathan Mufale, who said this is the only permit-approved site in the CBD presently on the market.

The Hayball-designed tower has a gross floor area of 11,685 sqm that Mufale said provides an attractive building envelope for residential, hotel or student accommodation use and presented purchasers with a ready-to-go development opportunity offering multiple selling features.

The site is located within the booming north eastern precinct of the Melbourne CBD and is close to RMIT University, Melbourne Central, Carlton Gardens and the State Library.

See Song Yew and Yew Kong Ling oversee Melbourne Domain, as well as Merlin Properties and Goodyear Properties.

Melbourne Domain bought 58 La Trobe St for $5.18 million 14 years ago and converted the existing four level office building on the property to residential, and strata titled the building. They own the ground and top floors.

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