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420 St Kilda Road, Melbourne

420 St Kilda Road was acquired by Vantage in partnership with private equity firm KKR as a value add/opportunistic real estate investment. During our short ownership Vantage completed a major capital refurbishment program including ground floor foyer, lifts and base building upgrades. Installation of a high-quality end-of-trip facility and other on-floor tenancy works contributed to a significantly improved asset. During our ownership Vantage increased rental levels by 58% on pre-acquisition levels and sold the property to an offshore private investor.

Purchase price:
Sale price in 2019:
$98 million
Net gain for investors:
Hold period:
2 years
Premium to valuation: