Skip to main content Skip to footer

Case Study | 350 Queen Street Commercial Office: Brokerage

Colliers Asia CMIS_case study queen street commercial office 3x2

We didn’t just see a commercial property. We saw the potential of the property to enhance investment returns.



Location (City)

Asset Type

Transaction Date

Size (Sqm)

Value (USD)

Melbourne

Office July 2020

21,423

$103 million

 

Buyer: TE Capital Partners Pte Ltd

Seller: 3L Alliance

Services provided: Brokerage

 

The Challenge

  • Older ‘B Grade’ commercial office building with current ongoing reconfiguration and construction works resulting in reduction of Net Lettable Area (NLA)

  • Not within Melbourne’s preferred office precincts

350 Queen Street comprises a ‘B Grade’ commercial office building constructed in 1990. As a result of podium reconfiguration works, the NLA has been reduced for the next 12-24 months. The property, located within the ‘Flagstaff’ Precinct is not within one of Melbourne’s preferred office precincts.

The Strategy

Strategic marketing of the asset to reflect the major capital expenditure program undertaken for the building, as well as reflecting location benefits.

The Solution

We provided sales, marketing and research services for the vendor, throughout the sales process, along with regular updates.

The Result

Terms for the sale were initially agreed in late 2019 in an ‘off-market’ negotiation brokered by Colliers, before the onset of COVID-19.

Following that, terms of sale were renegotiated to reflect the change in market conditions as well as projected capital expenditure

 

To see what could be the potential of your investment success, connect with our Capital Markets and Investment Services experts today.

Read more of our client success stories and case studies here.

 


Related Experts
Australia

John Marasco

Managing Director | Capital Markets & Investment Services

Investment Services

Melbourne

I have been with Colliers International for over 25 years and am the Managing Director of Capital Markets & Investment Services, Australia as well as the State Chief Executive of Victoria.  

I have established a strong reputation in the Capital Markets space and have formed close relationships with major investors and institutions on a global scale. In recent years, I have negotiated some of Australia’s largest real estate transactions and have been instrumental in successfully brokering many substantial transactions with overseas investors entering the Australian market. My extensive connectivity in the global real estate market can unite capital with local expertise, regardless of location.

Our national Investment Services business represents market specializations including Capital Markets and Investment Sales. The two clear divisions servicing the Australian commercial office market ensures complete market coverage, efficiency and premium experiences and successes for our clients. 

​As a long standing senior member within Colliers International, I have played an integral role in contributing to the business's success in Australia. I hold a number of senior positions with Colliers including a member of the National Executive Board. I am committed to the success of the business by providing our people with the tools they require to deliver incomparable service and results.

View expert
Australia

Matthew Stagg

Director, Melbourne City Sales | Investment Services

Investment Services

Melbourne

Matt Stagg has specialised in the sale of Melbourne Central Business District (CBD) and City Fringe commercial property since 2000. He has an extensive track record selling office and retail investments, development sites and commercial car parks. 

​Matt has an established client base throughout Melbourne and Australia from a variety of sectors including institutional and private investors, family offices, corporates, developers, banks, receivers and government.

He has also cultivated a network of international clients from China and South East Asia. This has directly resulted in several record transactions throughout the CBD and City Fringe to major offshore investors and developers entering the Melbourne market.

​Please contact Matt and the Melbourne City Sales Team should you be considering selling or buying a high quality commercial property in the City of Melbourne.​

View expert
Australia

Oliver Hay

National Director, Melbourne City Sales | Investment Services

Investment Services

Melbourne

Oliver is an experienced National Director with a demonstrated history of working in the Real Estate industry. Skilled in negotiation, customer service and real estate transactions, Oliver is a strong operating professional who has received numerous accolades throughout his career. Oliver’s strong client relationships are proof of his success and his drive to achieve the best possible outcome for all clients is unmatched. With a focus in the City of Melbourne, Oliver has transacted some of Melbourne’s largest and most significant deals and continues to play a major role in breaking market records.

View expert