Around the corner, a new $60 million strata office building is set for an old warehouse at 563 Little Lonsdale Street.
Developer Hampton Projects has appointed agents to sell the individual whole floor offices in the 24-level tower, dubbed Bastion.
Colliers’ strata team Anthony Kirwan, George Davies, Alexander Leggo and Oliver Hay are handling enquiries.
The whole floor offices range in size from 87 to 272 sq m and are understood to be selling for between $11,000 and $14,000 a sq m.
Designed by DKO Architecture, the glass tower will retain its heritage warehouse roots as a facade.
Hampton Projects directors Matthew Gazzard and David Smythe said: “We designed a building we wanted to work in.”
“There have only been two purpose-built, single-use strata office buildings built in the CBD in the past 20 years, 2Q Tower delivered in 2007 by Macquarie Bank and ’41 X’ delivered in 2014 by the Australian Institute of Architects. Capital values in both buildings have now more than doubled,” Mr Kirwan said.
Construction has just started on a third building at 130 Little Collins, where pre-sales hit the 50 per cent mark and prices have ranged from $16,000 to $21,000 a sq m.
“There are only six strata titled buildings in the legal precinct which provide whole floor offices, all built before the mid-1990s, and they don’t provide amenities such as end of trip facilities,” he said.
Records show the 335 sq m site was bought at auction in March 2017 for $6.62 million by 563 Li, a company co-owned by Hampton and Singaporean Beng Kooi Yap.
